Hainan Airlines completes sale of entire stake in Azul

    Hainan Airlines sold (11-Aug-2018) its entire 58.1 million shares of Azul‘s preferred stock, equivalent to 19.3 million AmericanDepository shares, at USD16.15 per share for USD306.2 million after deducting underwriting fees. Following the sale, Hainan Airlines no longer holds any shares in Azul. Hainan Airlines said the buyers were a number of US institutional investors who were not connected to Hainan Airlines, adding that the sale would help it optimise its asset structure, maintain good liquidity of assets, and focus on its core business. [more – original PR – Chinese]