HNA buys 60% of Turkish MRO firm

BEIJING - HNA Group Company Ltd, a diversified services provider, has acquired a majority stake in a Turkish maintenance, repair and overhaul (MRO) company to facilitate China's fourth-largest airline to penetrate the aviation networks in Europe, Asia and North Africa.

HNA's MRO division, Grand China Aviation Technik Ltd Co (GCA Technik), has taken a 60 percent stake of the company, a top manager told China Daily on Monday, in an agreement along with Bravia Capital, an advisory, structured financing and investment company that focuses on transportation projects in Europe and Asia.

"The acquisition is only the beginning of the company's expansion into a global MRO network, and our steps will be quickened," said Liu Qiang, general manger of marketing and sales department of GCA Technik.