Both airlines expected to form a joint alliance and stake expected to grow to 19.99% of Virgin over time. It's actually HNA Avion Group which is taking the stake, which has a few airlines:
Member companies under HNA Aviation include Grand China Airlines, Hainan Airlines, Tianjin Airlines, Lucky Air, West Air, Yangtze River Express, my Cargo, Ghana AWA Airlines, Aigle Azur Ailine, HNA Technik, HNA Sales, HNA Aviation Academy, HNA Cargo, myTECHNIC, etc.
http://www.smh.com.au/business/aviat...30-gp7peo.html
Not sure I would fly with lucky air!