Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Chen Feng and Anwar Hussein sign the agreement at State House Nairobi as President Kenyatta and Chinese Premier Li look on/PSCU

Kenya

HNA Group to make entry into Kenyan aviation sector

Chen Feng and Anwar Hussein sign the agreement at State House Nairobi as President Kenyatta and Chinese Premier Li look on/PSCU

Chen Feng and Anwar Hussein sign the agreement at State House Nairobi as President Kenyatta and Chinese Premier Li look on/PSCU

NAIROBI, Kenya, May 12 – HNA Group will make an entry into the Kenyan aviation market after Saturday’s signing of an MoU at State House, Nairobi with one of Kenya’s aviation companies.

HNA, a Chinese company entered into an agreement with Astral Aviation Limited based in Kenya in a deal that will see it invest over US dollars 50 million (Sh4.3 billion).

The memorandum was signed between Chen Feng, Chairman of HNA Group and Anwar Hussein, Chairman of Astral Aviation after the bilateral agreements with Kenya and China at State House on May 10, 2014.

The company was among the 17 that signed MoUs with the Kenyan government and the private sector.

The two companies are said to be fine tuning the final details before they begin the process to introduce airlines that will fly across the region and globally.

Ideally, HNA Group is listed as one of the fortune 500 companies whose global net worth is valued in excess of US$ 134 billion.

The Chinese company has vested interest in aviation, airport management, real estate and townships development, banking and financial services, insurance, container and shipping logistics, tourism, and shopping malls.

HNA has a presence in over 60 countries globally.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...