About the HNA Group
HNA Group had at least 1 trillion yuan (US$154.8 billion) of assets in it’s financial year ending 2017, driven by Chen’s ambition for his conglomerate. This made it onto the Fortune 100 list of the world’s largest companies by assets.
The Start of Demise…
The speed actions came to end in early-2018, when China’s financial regulators cracked down on the debt-fed binge for protecting the banking industry. A working group, including government officials representing the aviation regulator and provincial authorities, was established for restructuring HNA Group’s debts later in February 2020. The company also owns Hong Kong Airlines, one of their HK based carriers. HNA Group’s stake in Hong Kong Airlines is up for grabs, as Air China and other parties are in talks to seize control of the carrier.
We will bring the latest news on this insolvency and restructuring plan as we receive it. Let us know your thoughts below.