May 31 (Reuters) - Virgin Australia VAH.AX said on Tuesday it had entered into a deal with HNA Aviation Group for the Chinese conglomerate to invest A$159 million ($114 million) through an equity placement.
Shares will be issued at $A0.30 each, representing a 7.1 per cent premium to Monday's closing price, Virgin said in a statement.
The agreement would accelerate Virgin's access to the rapidly growing Chinese travel market through direct flights between Australia and China, it said.
($1 = 1.3916 Australian dollars)