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.