Hainan Airlines plans to sell remaining slice in Blue

China Hainan Airlines announced on Wednesday that plans to sell your remaining participation in brazilian airline Azul, but gave no details. Hainan, HNA conglomerate, part of which is expanding and troubled, sold in April part of your piece in blue to a subsidiary of United Continental for $138.3 million. The remaining participation of Hainan, representing 17,95% and 17,28% preferred shares of the capital stock of the company, worth about $324 million dollars based on Blue's market value at the close of Tuesday. The Hainan said the sale was a strategic decision on the basis of stock market conditions and that would help the company to maintain liquidity and maintain active restructuring on track. The HNA, the conglomeration of aviation services for financial services, has been selling real estate abroad and some of its greatest financial and strategic investments after a wave of acquisitions of 50 billion dollars over the past two years. The blue is the third largest of Brazil, behind the brazilian unit of Latam and the Goal. The Blue was created a decade ago by David Neeleman, founder of the American carrier JetBlue, and remains the largest shareholder, with 67% preferred shares. In April, the Blue 18,9% of the Brazilian domestic market was and 15,4% international market between operators in Brazil, according to the country's civil aviation authority.