February HNA Concentrates More on Air Cargo The battle is raging in China between various companies who are aiming to become the leaders in Chinese air cargo logistics in the future.
Shares of Hainan Airlines were suspended from trading on Wednesday, at the request of the company pending an announcement.
LONDON — It has been revealed that the HNA Group, that runs a few airlines such as Hainan Airlines, Tianjin Airlines, and Lucky Air etc., have been unable to pay for Airbus A jets that are due to be delivered to the group. A cluster of undelivered jets belonging to HNA has been seen near the. Hainan Airlines Co., Ltd. (HNA,) is an airline headquartered in Haikou, Hainan, People's Republic of ashio-midori.com is the largest civilian-run air transport company, the fourth-largest airline in terms of fleet size in the People's Republic of China, and tenth-largest airline in Asia in terms of passengers carried. China’s HNA to acquire Servair. Air France has entered into exclusive discussions with Chinese group HNA for the sale of % of its catering subsidiary Servair and the transfer of the latter’s operational control, for an enterprise value of €m (on a % basis), “with a view to creating the world-class leader in inflight catering”.
The Chinese conglomerate has risen to international prominence amid a global buying spree that saw it build up an empire of strategic assets. These include hotel group Hilton Worldwide Holdings, airline catering giant Gategroup, aviation servicing company Swissport, and a large shareholding in Deutsche Bank, among others.
The company resorted to loans to fund the asset purchases, resulting in a high gearing ratio. Hainan Airlines declined to comment on the matter. Meanwhile, two fund managers said it is highly likely that some assets would be restructured to help bail out the parent group.
HNA is under pressure to repay loans after some banks were said to have frozen unused credit lines to its units after they missed payments, according to Bloomberg.
Hainan Airlines, founded by Chen Feng inhas yuan-denominated A shares and hard-currency B shares listed at the Shanghai exchange. The company counts US billionaire George Soros among its early investors. The airline posted a 19 per cent on year decline in profit for the first three quarters of Net income between January and September totalled 2.
The shares were last quoted at 3. According to a court document, Asia Jet accused the two businessmen of wrongfully terminating the agreement and flying the jets back to the US without notifying the private jet operator.
We think you'd also like Thank youYou are on the list. This article appeared in the South China Morning Post print edition as: Hainan Airlines may restructure amid turbulence business-article-page.Most extensive and up to date airline knowledge base: More than 42, aircraft, 6, airports and 7, airlines, access to fleet lists, worldwide airline schedules and route networks, airline management contacts, airline capacity and frequency analysis, airline PSS directory, up .
HNA shares are down 49% over the past year and have fallen 70% from their peak in HNA was founded in by Chen Feng and has evolved from an airline upstart to a sprawling conglomerate.
HNA Group Co., Ltd., is a Chinese conglomerate headquartered in Haikou, Hainan, ashio-midori.comd in , it is involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more.
It is a part owner of Grand China Air, and owns 25% of Hilton Worldwide.
In July , HNA Group ranked No. in Fortune Global list with a revenue of $ Book your Taipei (TPE) to Hanamaki (HNA) flight with our Best Price Guarantee.
Save % when booking your hotel + flight. FREE 24 hour cancellation on most flights.
China appears to be coming around to the view that India, despite having a much smaller economy and military, is emerging as a strategic competitor of sorts by aligning itself with Japan and the United States.
The battle is raging in China between various companies who are aiming to become the leaders in Chinese air cargo logistics in the future.
There is not a day which goes by where companies such as the HNA Group, STO Express, SF Airlines, and others, put out press releases showing their expansion.