China air terminals owner HNA is being linked with a possible stake in airports operator BAA.
HNA is also the parent of rapidly expanding Hainan Airlines.
BAA’s Spanish majority shareholder Ferrovial wants to sell a 10% stake to cut debt.
Analysts have estimated the stake will cost about €200 million (£172 million), and the sale will happen in the next few months.
A Ferrovial spokesman said: “The sale process is open, and we’re studying offers. We’ll announce a decision once we’ve made one.”
BAA’s airports include Heathrow, Stansted, Southampton, Edinburgh, Glasgow and Aberdeen.
The company has been ordered to sell Stansted and either Glasgow or Edinburgh airports by the Competition Commission.