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China takes the controls at HNA

HNA Airbus A330-200F, © Airbus S.A.S.

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BEIJING - China plans to take over HNA Group Co and sell off its airline assets, as the coronavirus outbreak has hit the Chinese conglomerate`s ability to meet financial obligations, Bloomberg reported on Wednesday, citing people familiar with the matter. The list of potential HNA airline buyers is short.

The government of Hainan, the southern province where HNA is based, is in talks to take control of the conglomerate, the report said. HNA did not immediately respond to an e-mailed request for comment on the Bloomberg report.

According to media sources Air China, China Eastern Airlines and China Southern Airlines are likely buyers of HNA´s airline business.
© Reuters, | Image: Airbus | 20/02/2020 07:39

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