A Chinese firm has acquired an interest in a French airline for the first time with the announcement on Tuesday that HNA has acquired nearly half of Aigle Azur.
HNA is a diversified group which owns the fourth-biggest Chinese airline Hainan Airlines, and has tried for some time to gain a foothold in Europe.
HNA has acquired 48 percent of Aigle Azur, the oldest airline in France, which now intends to open a route from Paris to Beijing for the beginning of the summer season in 2013. The value of the deal was not disclosed.
The president of HNA, Chen Feng, said: "Aigle Azur is a very good, profitable business."
He said: "It is a small company which cannot develop without the help of a big firm. It is mutually beneficial."
The Chinese company, active in finance, tourism and transportation, was created in 2000, has assets totalling 36 billion euros ($46.7 billion) and achieved sales of 12 billion euros last year.
Read more: Chinese HNA buys into French airline, steps into Europe - Channel NewsAsia
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