Bravia Capital (Bravia), a private equity investor based in Hong Kong and HNA Group Co., (HNA) of China, have completed the acquisition of ACT Airlines, Turkey. ACT Airlines is an air cargo operator based in Istanbul, Turkey. The transaction represents the strategic expansion of China’s global footprint into the high-growth marketplace of Turkey and surrounding regions, and allows Bravia and HNA to build a cargo platform to capitalize on the growing Eurasian cargo traffic. ACT Airlines has been rebranded and will trade as “MyCargo Airlines.”
MyCargo Airlines will join a group of strong and successful companies under the Grand China Logistics Group (GCL), the logistics arm of HNA. Created in 2007 as the first air-land-sea and conglomerate logistics company in China, GCL has total assets of over US$ 7 billion and operates a cargo airline with 14 aircrafts, 8 shipping lines operating a total of 100 ships in bulk, tanker and container segments, and 2 shipyards.
