TOPIC

/ company

HNA Group

HNA Group is primarily an aviation services company that also has business that spans investment management, tourism development and other industries.

Chairman / President

Gu Gang

CEO / Managing Director

Gu Gang

CFO / Finance Director

Meng Yongtao

Industry

Aerospace & Defence

Website

hnagroup.com

Headquarters address

4 Tianzhi Street, Haikou, Hainan, China

Year founded

2000

last updated:

30 September, 2024

The carrier earlier announced it would resume direct flights between the city and the Gold Coast in Australia. Photo: Airbus

Hong Kong transport

Hong Kong Airlines to return to North America next year with Vancouver route

Chairman Yan Bo says service will be back on January 18 as part of ‘transformation’ from regional carrier into international airline.

21 Nov 2024 - 7:56PM

China property

Hong Kong court adjourns winding-up trial of HNA Group by 6 weeks

3 Jul 2024 - 2:43PM

Hong Kong economy

Hong Kong Airlines launches new route to Xining in Qinghai province

28 Jun 2024 - 8:38PM

Hainan

HNA arm Bohai to soon start US$5 billion sale of container lessor Seaco: sources

Bohai Leasing, a Shenzhen-listed arm of failed Chinese conglomerate HNA Group, is kicking off the sale of its container leasing business Seaco, sources say.

8 Feb 2024 - 10:34AM

HNA’s subsidiary Bohai Leasing is working with an adviser to solicit bids for its container leasing business Seaco. Photo: Reuters

Hong Kong tourism

Hong Kong Airlines to launch weekend giveaway of tickets

Hong Kong Airlines says popular destinations Japan and Thailand already back to pre-coronavirus levels as it launches ticket giveaway.

25 Aug 2023 - 8:02PM

Aviation

HNA buys 100 planes from Comac, giving China’s builder a leg up

The procurement is a boost for Comac in helping China to fulfil President Xi Jinping’s aspiration to challenge the dominance of Boeing and Airbus in the home or even the global market.

28 Apr 2023 - 3:30PM

Hong Kong Airlines

Hong Kong Airlines’ US$6.2 billion debt restructuring approved by creditors

Hong Kong Airlines’ debt restructuring plan has been approved by creditors, the Post has learned, removing a key hurdle for the carrier to tackle US$6.2 billion of liabilities.

5 Dec 2022 - 4:00PM

Hong Kong Airlines has received the go-ahead from creditors for its US$6.2 billion debt restructuring plan. Photo: Handout

Banking & finance

Hong Kong Airlines to face its fate in UK debt workout plan hearing

Hong Kong Airlines is set to face a second hearing next month on its US$6.2 billion debt restructuring in a British court, as bondholders plan to vote against the proposal.

27 Oct 2022 - 1:01PM

Hong Kong property

House on The Peak owned by bankrupt HNA sells at a loss of US$15 million

House 6 at Twelve Peaks was sold to Guo Deying, who shares the same name as the founder of Coolpad Group, for HK$387 million.

26 Jan 2022 - 8:01PMvideocam

Hong Kong land sale

Hong Kong developers hunt for bargains as China firms fall on hard times

The tide has turned on Chinese asset buyers and their grab for land in Hong Kong, after a regulatory crackdown on leveraged acquisitions by Chinese regulators in 2017.

11 Dec 2021 - 9:30PM

Banking & finance

Hainan Airlines to raise US$7.9 billion via stock sale to cut debt

The stock issue is the latest step in China’s efforts to unravel HNA’s US$309 billion of debt after the group’s rapid borrowing-fueled expansion.

1 Dec 2021 - 5:41PM

A Hainan Airlines aircraft on the tarmac at the Beijing airport on May 13, 2018. Photo: Reuters

Retailing

LVMH mulls first Louis Vuitton duty-free store in China in strategy shift

French luxury group is considering opening its first Louis Vuitton duty-free store in China in Hainan in a move that would mark a strategy shift, according to two sources.

12 Nov 2021 - 10:52PMvideocam

Hainan

HNA’s creditors get the go-ahead to sell global assets to repay debt

HNA Group, founded by Chen Feng around Hainan Airlines, grew into one of China’s largest private conglomerates and biggest offshore asset buyers over two decades.

1 Nov 2021 - 10:25PM

Hainan

HNA’s founder Chen Feng, chief executive Adam Tan detained

The detentions bring the curtains down on HNA, built on the foundations of China’s most successful private carrier Hainan Airlines.

24 Sep 2021 - 11:38PM

Chen Feng, founder of China's Hainan Airlines and the HNA Group during an interview in Haikou on 23 June, 2017. Photo: Xiaomei Chen

Aviation

HNA to be split into four as group’s restructuring enters final stretch

HNA will be split into four independently run businesses: aviation, airport, financial and commercial, says executive chairman Gu Gang, who is leading the group’s revamp.

20 Sep 2021 - 10:59PM

HNA Group’s restructuring is slowly taking shape. Photo: Imaginechina via AFP

Dealing with debt

Debt-laden Chinese conglomerate finds investors for airline, airport businesses

Liaoning Fangda will be the strategic investor for the group’s flagship HNA Airlines while Hainan Development Holdings will invest in HNA Infrastructure.

12 Sep 2021 - 9:34PM

Hong Kong property

Creditors put HNA’s US$56 million Hong Kong penthouse up for sale

The flat was previously owned by Billion Able, which had HNA chairman Chen Feng as its director. The firm bought it in 2015 for US$55.6 million.

19 Aug 2021 - 9:49PM

Aviation

HNA bankruptcy restructuring is postponed amid state airlines’ absence

Embattled Chinese conglomerate HNA Group will delay the submission of a proposal for its restructuring, as China’s state-owned carriers have steered clear of bailing out the country’s biggest private-sector carrier, according to sources familiar with the matter.

10 Aug 2021 - 10:23PMvideocam

HNA Group’s debt amounts to at least US$187 billion. Photo: Reuters

Dealing with debt

HNA faces US$187 billion in claims from 67,400 creditors

HNA, whose flagship business is Hainan Airlines, used a US$50 billion debt-fuelled acquisition spree to build an empire that included stakes in businesses from Deutsche Bank to Hilton Worldwide

4 Jun 2021 - 10:58PM

Fosun Group

Fosun unit Yuyuan sets up US$6.4 billion firm to invest in airlines

Yuyuan’s shares rose by the daily limit of 10 per cent to 13.08 yuan on Thursday amid speculation that its aviation investment company would target Hainan Airlines.

20 May 2021 - 6:00PM

A-shares

HNA airline unit posts biggest-ever loss for a listed Chinese company

Hit by the outbreak of Covid-19 and provisions for asset losses linked to a restructuring at its parent firm, the Haikou-based carrier reported a loss of 64 billion yuan (US$9.9 billion) for 2020

30 Apr 2021 - 4:16PM

Hainan Airlines was the foundation on which magnate Chen Feng built his conglomerate, which spanned hotels to financial institutions. Photo: Reuters

Aviation

Hainan Airlines slumps after it warns loss could reach US$10.06 billion

Hainan Airlines Holding sheds as much as 9.8 per cent in Shanghai, with other HNA Group entities also falling after parent’s bankruptcy restructuring.

1 Feb 2021 - 4:05PM

Hainan Airlines said its expects to post massive losses because of problems at parent HNA Group. Photo: AFP

Aviation

HNA’s woes mount as three units disclose embezzlements of US$10 billion

Shareholders and other related parties had embezzled 61.5 billion yuan, Hainan Airlines Holding, HNA Infrastructure Investment and CCOOP Group said.

31 Jan 2021 - 6:21PM

Hainan

HNA Group’s chief rallies staff after company’s bankruptcy workout

The rallying cry by the leader of HNA Group, appointed in February 2020 by regulators and the Hainan provincial government to lead the company’s debt workout, comes a day after one of China’s largest private conglomerates received a court petition to undergo bankruptcy restructuring.

30 Jan 2021 - 4:27PM

Banking & finance

HNA Group enters bankruptcy restructuring as it buckles under debt

HNA Group’s acquisition spree came to an end in 2017 when China’s financial regulators, fearful of risks to the banking industry, cracked down on the debt-fed binge.

29 Jan 2021 - 11:22PM

Hainan

Chen Feng is missing from HNA Group’s key decision-making body

The omission is a dramatic exit by an entrepreneur whose global shopping spree of everything banks to hotels totalled at least 1 trillion yuan (US$154.8 billion) of assets as recently as in 2017, fuelling his ambition to make it among the Fortune 100 list of the world’s largest companies by assets.

27 Jan 2021 - 11:00PM

Chen Feng, then Chairman of HNA Group, during an interview in his office in the Hainan provincial capital of Haikou on 23 June 2017. Photo: Xiaomei Chen

Hong Kong aviation

Hong Kong Airlines to axe 250 flight attendants in new pandemic-related cuts

City’s third largest carrier tells staff that extended grounding of planes during pandemic forced a rethink of staffing levels.

11 Dec 2020 - 11:41PMvideocam

Mergers & Acquisitions

Platinum Equity closes in on US$7 billion deal for HNA’s Ingram

At US$7 billion, the sale would be the biggest asset disposal by a Chinese company to a buyer outside the country in the year to date, according to data compiled by Bloomberg.

9 Dec 2020 - 8:45PM

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