Chinese carrier Hainan Airlines has bought a 6,2% stake in Comair.
HNA was rumoured to be in talks with SAA about acquiring a stake in the national carrier earlier this year. However, SAA denied reports that it was “selling itself to any other airline right now”.
Shareholder Thelo Aviation Consortium has divested its entire stake in Comair for R159,8 million, Comair said in a statement. At the same time, HNA Group has acquired a 6,2% stake in Comair. HNA Group has already invested in two other African carriers, Africa World Airlines in Ghana and Astral Aviation in Kenya.
“The synergies between the parties are unclear. Comair does not fly outside of southern Africa while HNA no longer flies to Africa – and if it did, it probably would not need an investment stake to work with Comair, which is generally open to partnerships,” a CAPA Aviation Analysis report said.
