Caixin
Jul 16, 2022 07:44 PM
BUSINESS

Exclusive: Hainan Airlines’ Operator Seeks $3 Billion Emergency Loan, Sources Say

Photo: VCG
Photo: VCG

Liaoning Fangda Group Industrial Co. Ltd. is seeking an emergency loan of 20 billion yuan ($3 billion) with the help of the Hainan provincial government to assist in operating HNA Group Co. Ltd.’s core airline operations, people familiar with the matter told Caixin.

The Beijing-based strategic investor Liaoning Fangda, which only assumed management of HNA’s flagship carrier Hainan Airlines Holding Co. Ltd. (600221.SH) in December as part of the conglomerate’s restructuring, has repeatedly asked for financial aid from the Hainan provincial government, the sources said.

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