HNA Struggles to Make Dreams of Dominance Come True

(Beijing) – Cross shareholding and high debt taken on by subsidiaries of Hainan Airlines Group (HNA) have raised concerns over potential risks, especially after a debt dispute led the detention of a luxury liner in South Korea.

With ambitious plans to expand fleet size, Grand China Shipping Co. (GCS) was once an important arm of HNA's expansion in logistics. Established in 2008, GCS was a wholly owned subsidiary of Grand China Logistics Group, the logistics arm of HNA.