Turkish Airlines eyes stake in Virgin Australia

Turkish Airlines is interested in HNA Group's minority stake in Virgin Australia as it seeks growth in the Asia-Pacific region, according to people familiar with the matter. TK is among companies looking at HNA’s 20% stake in the airline. Deliberations are preliminary and may not result in a deal, the people said. HNA is looking to offload assets such as its stake in Virgin Australia to reduce its debt. The troubled conglomerate was open to offers for its stake in Virgin Australia as part of its efforts to cut debt. SIA and Nanshan Capital, which each control about a fifth of Virgin Australia’s shares, were among the companies weighing a bid, people familiar with the matter said last year. TK has been evaluating potential investments in other airlines to help safeguard expansion if the rise in protectionism presents hurdles to growth. <br/>