newstodate.aero
Feb 01, 2021 (newstodate): Not everything Chinese turns golden: a leading conglomerate, HNA Group has applied for bankruptcy and reorganization.
HNA Group is strongly embedded in the country's aviation business with ownership in Air Chang'an, Beijing Capital Airlines, Fuzhou Airlines, Grand China Air, GX Airlines, Hainan Airlines, Lucky Air, Suparna Airlines, Tianjin Airlines, Urumqi Air, and West Air, as well as holding stakes in several international airlines.
Pending the outcome of the reorganization process, most of the airlines will continue operating, including the main carrier Hainan Airlines.