Henan Civil Aviation Development and Investment Co Ltd, a State-owned company in Henan province, spent $231 million for a 35 percent stake in Cargolux Airlines International SAS.

The transaction will mean that Zhengzhou Xinzheng International Airport in the provincial capital will become the European freight carrier's second global hub.

HNA Group Co Ltd, China's fourth-largest airline group, purchased 48 percent of the shares in Societe Aigle Azur Transports Aeriens, known as Aigle Azur, a Paris-based private airline, in 2012.

As a result of the transaction, the group will run services between Paris and Beijing starting next month.

"There were many opportunities for Chinese enterprises in recent years, as the European aviation industry was in a slump," said Li Lei, a civil aviation analyst with China Minzu Securities Co Ltd.

There have been signals recently that the industry is recovering and Chinese buyers are more confident about acquisitions, he added.