Chinese companies have upped their stake in Virgin Australia Holdings as a second mainland conglomerate bought a stake in the carrier. The Nanshan Group will buy about 20 per cent of Australia’s second-largest airline from Air New Zealand, the Auckland-based carrier said in a statement recently. Nanshan’s assets stretch from aluminium to property and include the two-year-old Qingdao Airlines. HNA Group, the owner of Hainan Airlines, last month said it plans to buy 13 per cent of Virgin … [Read more...] about Virgin Australia shareholders become strange bedfellows
Nanshan Group
Qingdao Airlines to rebrand as Xinlong Air
Qingdao Airlines is set for a rebranding to Xinlong Air following plans to massively restructure its shareholding at the end of August. State-backed Qingdao Transport Development Group Co. announced plans to dispose of its 25 per cent stake for CNY251 million (US$40.4 million). Meanwhile, the airlines’s other shareholder Shandong Airlines has also announced plans to sell off its 20 per cent stake to New Nanshan International Holdings Ltd., a subsidiary of Xinlong's largest shareholder, … [Read more...] about Qingdao Airlines to rebrand as Xinlong Air