Chinese conglomerate HNA Group, which owns ground handler Swissport, is preparing to take a stake of up to 20% in Portuguese national airline TAP, according to French news agency AFP.
It is reported that HNA will buy an initial 7% stake in Atlantic Gateway, the private consortium that owns 61% of TAP, citing a private shareholder in the southern European carrier, Humerto Pedrosa, adding that its direct and indirect stake could reach 20%.
HNA is on the acquisition trail, having already bought Gategroup Holding, the world’s second-largest airline catering company, for $1.5bn in April.
The Chinese aviation and tourism group also took a strategic 23.7% stake worth $450m in Azul Brazilian Airlines in November last year.
In the same month as the Azul deal, Brussels regulators approved HNA’s SFr2.73bn acquisition of airport ground handler Swissport.
