CHINA: China’s HNA group invests in Turkey’s ACT Cargo

The Chinese HNA group aims to establish a European cargo network through its acquisition of 49 per cent of the shares in Turkey's ACT Cargo airline. Hainan Airlines is China's largest privately owned air transport company.


ACT cargo China group HNA Turkey


The Chinese HNA group aims to establish a European cargo network through its acquisition of 49 per cent of the shares in Turkey’s ACT Cargo airline. Hainan Airlines is China’s largest privately owned air transport company.

The HNA Group, the owner of China’s Hainan Airlines, has entered the Turkish market by acquiring 49 per cent of Turkey’s ACT Airlines and is now eyeing other sectors such as aviation, real estate, hotels and seaports.

HNA, China’s largest privately owned air transport company, acquired 49 per cent of ACT’s shares for US$25 million and plans to invest more in Turkey.

Istanbul-based ACT Airlines performs unscheduled air cargo services provides services to DHL and Lufthansa and has also been active in Gulf countries.

In addition to ACT’s current fleet of four A300-B4 cargo aircraft, HNA plans to grow quickly by purchasing three B747-400 aircraft before year’s end to become the biggest air-cargo company in the country.

Separately, HNA is said to be looking to strike a deal with Malev Hungarian Airlines, either through direct investment or a joint venture. Malev is a governmentowned carrier with 24 aircraft including 19 B737s that serves 36 countries.