Hainan Airlines Holding Co.,Ltd. (SHSE:900945) agreed to acquire remaining 60.8% stake in HNA Aviation Technic Co.,Ltd. from HNA Aviation Technic Co.,Ltd. for CNY 3.3 billion on April 3, 2019. In a related deal, Hainan Airlines Holding Co.,Ltd. will acquire Hainan Sky Plumage Flight Training Co., Ltd. from HNA Aviation Group Co., Ltd. Upon completion, HNA Aviation Technic Co.,Ltd. will operate as wholly owned subsidiary of Hainan Airlines Holding Co.,Ltd. For the year ended December 31, 2018, HNA Aviation Technic Co.,Ltd. reported total assets of CNY 8.03 billion, net assets of CNY 4.3 billion, revenue of CNY 3.8 billion, and net profit of CNY 280.6 million. The transaction is subject to the approval of HNA Aviation Technic Co.,Ltd.’s shareholders and the implementation of the internal review procedures by the parties, the approval of the relevant regulatory authorities or the approval authority, and approval from the shareholders’ meeting of Hainan Airlines Holding Co.,Ltd. The transaction was approved by the 24th meeting of the 8th directorate of Hainan Airlines Holding Co.,Ltd. As of April 19, 2019, transaction was approved by shareholders of Hainan Airlines Holding Co.,Ltd. Hainan Airlines Holding Co.,Ltd. (SHSE:900945) cancelled the acquisition of remaining 60.8% stake in HNA Aviation Technic Co.,Ltd. from HNA Aviation Technic Co.,Ltd. on April 3, 2020.