newstodate.aero
Aug 14, 2018(newstodate): Chinese pockets seemed almost without bottoms - but things may be changing..
One example is the Chinese business conglomerate HNA Group that has been on an aggressive shopping tour around the world over the last few years, buying into a diversity of aviation and travel-related and other investments areas.
Over the recent years, the HNA Group has thus taken over Frankfurt Hahn Airport and closed in on Bulgaria's Plovdiv Airport, bought into the handling company Swissport, acquired 23.7 percent of the shares in Brazil's third-largest airline, the low-cost carrier Azul, acquired all shares in the Turkish carrier ACT Airlines, re-branded as MyCargo Airlines operating under the Grand China Logistics Group, the logistics arm of HNA - and so on and so forth...
Now, the tide is changing again, and the HNA Group has put its stake in Comair up for sale again, its stake in the Swiss catering and services subsidiary Gategroup is also put on tender, part of its stake in Deutsche Bank has been sold off, real estate in Hong Kong and the USA has been divested, and the HNA Group is now also selling its ownership stake in the Carlson Hotels.
Furthermore, several of the Group airlines have been denied fueling at some airports over lack of payment.
A payments stand-off with Airbus has also caused the delay of deliveries of new Airbus A330 aircraft to HNA Group airlines, so there are limits to the capacity of even this conglomerate whose CEO and founder incidentally died in France during a vacation in Provence in July 2018.
One example is the Chinese business conglomerate HNA Group that has been on an aggressive shopping tour around the world over the last few years, buying into a diversity of aviation and travel-related and other investments areas.
Over the recent years, the HNA Group has thus taken over Frankfurt Hahn Airport and closed in on Bulgaria's Plovdiv Airport, bought into the handling company Swissport, acquired 23.7 percent of the shares in Brazil's third-largest airline, the low-cost carrier Azul, acquired all shares in the Turkish carrier ACT Airlines, re-branded as MyCargo Airlines operating under the Grand China Logistics Group, the logistics arm of HNA - and so on and so forth...
Now, the tide is changing again, and the HNA Group has put its stake in Comair up for sale again, its stake in the Swiss catering and services subsidiary Gategroup is also put on tender, part of its stake in Deutsche Bank has been sold off, real estate in Hong Kong and the USA has been divested, and the HNA Group is now also selling its ownership stake in the Carlson Hotels.
Furthermore, several of the Group airlines have been denied fueling at some airports over lack of payment.
A payments stand-off with Airbus has also caused the delay of deliveries of new Airbus A330 aircraft to HNA Group airlines, so there are limits to the capacity of even this conglomerate whose CEO and founder incidentally died in France during a vacation in Provence in July 2018.