HNA Group to receive $5.9 billion in strategic investment
Recently bankrupt Hainan Airlines parent company HNA Group will reportedly receive $5.9 billion in strategic investment after its restructuring.
The eleven HNA Group’s subsidiaries will be granted the strategic investment. Out of 38 billion yuan ($5.9 billion), 25 billion yuan ($3.9 billion) will go to its flagship carrier Hainan Airlines, the insider sources familiar with the matter told Reuters on September 27, 2021.
HNA Aviation owns a stake in numerous Chinese carriers, including Hainan Airlines – the fourth largest airline in the country, as well as Grand China Air, and others. HNA Airport Group, a subgroup of HNA Holdings, operates 16 airports in China.
In January 2021, HNA Group applied for bankruptcy and reorganization after a long period of financial struggles.
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