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Hainan Airlines to purchase hotel, aviation assets from parent HNA Group

04/11/2018| 1:33:43 PM| 中文

Overseas assets would account for 48 to 65 per cent of all outlays involved in this overhaul, said Hainan Airlines, adding that it would need to consult and discuss with multiple overseas regulators.

Hainan Airlines, a key subsidiary of debt-laden Chinese conglomerate HNA Group, said on Tuesday that it is mulling the purchase of major hotel and aviation assets from its parent, and independent third parties, including several domestic airlines and an unnamed overseas hotel operator.

The company said it plans to purchase a number of major assets from its parent HNA Group, including “an overseas hotel operator”, which mainly engages with the hotel management business and has “an important overseas listed subsidiary”.

The subsidiary will use a combination of cash and funds raised through the issuance of new shares to finance the asset purchases.

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TAGS: Hainan Airlines | HNA Group
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