-- Hainan Airlines (SHA:600221, SHA:900945), through subsidiary Chongqing Fangda Aviation International Headquarters, will acquire 49% of HNA Aviation Technology (Chongqing) through capital increase, according to a Shanghai bourse filing on Saturday.
The airline company's B shares slipped 1% during Monday's afternoon trade.
The company, along with another subsidiary, HNA Aviation Technology, will jointly inject 90 million yuan into HNA Tech Chongqing, an aircraft maintenance company.
The company will inject 58.8 million yuan and HNA Aviation Tech will invest 31.2 million yuan.
HNA Tech Chongqing's capital will increase to 120 million yuan from 30 million yuan.
HNA Aviation Tech, which previously own 100% of HNA Tech Chongqing, will hold 51% after the completion of the transaction.