Soros plans increase in Hainan Air stake
14 October 2005
US financier George Soros may invest a further US$25 million in Hainan Air, following his initial 14.8% stake acquired for US$24 million in 1995, in a move aimed to cash in on the estimated 70 million visitors China will receive for the 2008 Olympics and the 2010 Shanghai World Expo,
Bloomberg reported. It is thought Soros may sign the deal during a visit to Hainan Air's carrier on Hainan Island this weekend. The Hainan carrier wants investment in order to acquire three smaller carriers and to buy new aircraft in a bid to compete with China Southern and Cathay Pacific.