Virgin Australia Holdings Limited
(ASX:VAH) will enter a strategic alliance with HNA Aviation Group Co Ltd (HNA), a Fortune Global 500 company based in China.
The Australian airline says that the strategic alliance will increase its access to the rapidly growing Chinese travel market.
Both companies will look to introduce direct flights between Australia and China, as well as co-operate on code-sharing, frequent flyer programs and lounge access.
HNA will also make an equity investment in Virgin, giving it a shareholding of around 13 percent in Virgin.
Virgin reported a net profit of $62.5 million at 31 December 2015.
