Chinese group HNA enters the consortium that manages the airport of Rio de Janeiro, Brazil

27 April 2017

Chinese group HNA will enter the RioGaleão consortium that manages Galeao airport in Rio de Janeiro, currently known as Antonio Carlos Jobim Airport, the Chief Minister of the General Secretariat of the Presidency of Brazil, Moreira Franc confirmed recently.

The chief minister, contacted by the Brazilian press to comment on the results of the auction of transmission lines held on Monday in Sao Paulo, said the Chinese conglomerate has agreed to acquire the 60% stake owned by Brazilian group Odebrecht.

The Odebrecht Group and Changi Airports International Pte Ltd of Singapore own 51% of Galeão Airport, and the remaining 49% is in the hands of Brazilian airport manager Empresa Brasileira de Infra-estrutura Aeroportuária (Infraero), established in 1972 to operate the main commercial airports in the country.

The consortium managing Galeão airport has the largest debt in arrears among Brazil’s airport managers, amounting to 794 million reais.

The minister recalled that the consortium paid rent for 2016, of 919 million reais last week when it announced it would soon pay 4.5 billion reais for rent for 2017, 2018, 2019 and part of 2020.

The Brazilian construction group is involved in one of the biggest corruption scandals ever seen in the country, known as Jet Wash, and is facing major difficulties in obtaining financing.

The HNA Group is a conglomerate based in Hainan Island which operates in the aviation, industrial, tourism, logistics and financial sector and became shareholder of airline Azul – Linhas Aéreas Brasileiras after paying 1.7 billion reais for a 23.7% stake. (macauhub)

MACAUHUB FRENCH