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BUSINESS & TECH

HNA Offloads Aircraft-Leasing Assets for $884 Million

A subsidiary of Bohai Capital Holding Co. Ltd. under the HNA group has sold 41 aircraft to a Cayman Islands-based company for $884 million. Photo: VCG
A subsidiary of Bohai Capital Holding Co. Ltd. under the HNA group has sold 41 aircraft to a Cayman Islands-based company for $884 million. Photo: VCG

HNA Group has unloaded part of its aircraft-leasing business, the latest of the conglomerate’s asset sales following a global buying spree that left it with large debts.

Avolon Aerospace Leasing Ltd. (AALL), a subsidiary of Bohai Capital Holding Co. Ltd. under the HNA group, has sold 41 aircraft to Sapphire Aviation Finance I Ltd., a Cayman Islands-based company, for $884 million, according to a filing (link in Chinese) to the Shenzhen Stock Exchange on Tuesday.

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