Hainan airlines says Liaoning Fangda Group becomes strategic investor

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Hainan airlines says Liaoning Fangda Group becomes strategic investor

Príspevok od užívateľa lily9889 » Pondelok, 13. Septembra 2021, 10:09

Hainan airlines says Liaoning Fangda Group becomes strategic investor


China's Hainan Airlines said on Sunday that Liaoning Fangda Group Industrial will become a strategic investor, as the airline's parent HNA Group takes steps to emerge from bankruptcy.

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A court in Hainan, China, gave the go-ahead in March for a merger of 321 firms related to HNA to enable it to potentially emerge from bankruptcy after a US$50 billion global acquisition spree brought it to its knees.

HNA's flagship firm, Hainan Airlines, said its new strategic investor Liaoning Fangda may become the controlling shareholder of the conglomerate's aviation business after the investment.

Liaoning Fangda Group Industrial is a conglomerate featuring carbon, steel and pharmaceutical sectors, with listed units such as Fangda Carbon New Material, Northeastern Pharmaceutical Group and Fangda Special Steel Technology.

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