The Chinese HNA Group has announced that it is looking to invest up to US$200m (A$223m) in Australian air transport, airport management and other tourism and hospitality operations as part of a major push to expand its presence in the country.
As part of the push, the HNA Group’s entire board and 318 delegates from its key business divisions will visit Sydney in late July to assess investment opportunities. HNA was recently involved in a takeover of Allco’s aviation assets by its affiliate Hong Kong Aviation Capital, which now leases a number of aircraft to Australian operators.
“The HNA Group’s board visit to Australia showcases our commitment to invest in Australia and continue to expand our presence in this market,” said Adam Tan, executive director and chairman of the HNA Group. “We have a long term view to deploy significant capital in the Asia Pacific region and Australia is at the core of our international expansion strategy.”
HNA is the parent company of Hainan Airlines and also holds a significant stake in Hong Kong Airlines as well as having other diversified interests around the world.