Chinese business aircraft manager Business Aviation Asia (BAA) will take a 25% stake in the China unit of fractional ownership provider NetJets. The two companies have signed an agreement for the deal, which is now contingent upon approval by China's Ministry of Commerce and the Civil Aviation Administration of China, according to representatives from both companies. NetJets China is a joint venture between the fractional ownership giant and a consortium of Chinese investors, led by private equity firms Hony Capital and Fung Investments. It operates two aircraft on a charter basis in the mainland.
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