HNA Group, parent company of Hainan Airlines (600221), may acquire Malev Hungarian Airlines and bid for Hochtief Airport, reports China Business News, reports China Business News, citing an unnamed insider in HNA Group.
An insider in HNA Group was quoted as saying that Chen Feng, board director of HNA Group, signed a letter of intention regarding an investment in Hungarian Airlines last month. Malev Hungarian Airline is based in Budapest and operates routes in 50 cities in 36 countries. The company has suffered consecutive annual losses.
In 2004, HNA Group stated its intention to bid for Malev Hungarian Airlines and opened its first European route from Beijing to Budapest. It ultimate gave up the intention to acquire the company, however.
HNA Group may restructure Malev Hungarian Airlines after the acquisition, while the group still needs four or five months to go through some evaluations until the restructuring can finally occur, the insider added.
In the meantime, HNA Group also attended the bidding of Hochtief Airport. Hochtief Airport, a subsidiary of Hochtief Group, is an airport management company headquartered in Essen, Germany. It owns shares in six airports in Athens, Dusseldorf, Hamburg, Budapest, Tirana and Sydney.
After HNA opened its first European route from Beijing to Budapest in 2004, it announced a new Beijing-Berlin route in 2008 and a Shanghai-Urumqi-Istanbul route in earlier this year.


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