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  • Guilin Airlines, named after the tourist city of Guilin in Guangxi, China, suspended its commercial flight operations on November 3, 2023, due to non-operational issues, marking the first such suspension in China's civil aviation industry in 15 years. It resumed flights on February 1, 2024, with significant local government support and completely disengaged from its previous aviation service partner Hainan Airlines Group (HNA).
  • The suspension and resumption of Guilin Airlines' operations were attributed to a shareholder dispute over control between HNA and Guilin's local state-owned assets supervision and administration commission. Despite re-launching operations, only two out of ten aircraft were operational as of March 14, 2024, indicating ongoing challenges.
  • The airline faced financial difficulties before the suspension with negative net assets at the end of 2023 and legal disputes regarding ownership still pending resolution. The future development of Guilin Airlines remains uncertain amidst these challenges and ongoing legal battles over control rights between HNA and local government entities.
Mar.16 2024 15:14 PM
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Carrier will use capital to ease financial pressure in the wake of Covid-19 lockdowns
Aug.12 2022 21:09 PM
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Another Tomorrow Holding unit is cleared for bankruptcy. Hainan Airlines’ operator seeks an emergency loan of $3 billion, sources say
Jul.19 2022 08:49 AM
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Liaoning Fangda took over the airline from the beleaguered HNA Group in December, but has struggled to stem ballooning losses
Jul.16 2022 19:44 PM
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Former unit of HNA Group commences delisting after four years of losses and dwindling revenue
Jun.16 2022 04:16 AM
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Deutsche Bank joins its global peers with link to the Beijing Stock Exchange. BYD raises the price of its electric vehicles again
Mar.18 2022 08:58 AM
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Parent company HNA Group’s chairman and its CEO were also taken into custody last September in a probe of suspected criminal offenses
Mar.17 2022 03:48 AM
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China plans to broaden the stock connect program to incorporate Swiss and German exchanges
Dec.21 2021 09:18 AM
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Shanghai-listed Hainan Airlines and HNA Infrastructure Investment disclose that China’s securities regulator is looking into each for suspected violations of information disclosure laws and regulations
Dec.18 2021 18:52 PM
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Handover of Hainan Airlines to Liaoning Fangda marks the latest step in the restructuring of the once high-flying conglomerate now sunk in debt
Dec.8 2021 14:26 PM
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China will issue its carbon reduction plans for specific sectors, Xi says. Chinese property companies report rapid contraction in sales and financing
Nov.2 2021 09:57 AM
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A court approves the plan days after the debt-crippled conglomerate’s creditors sign off
Nov.1 2021 08:48 AM
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Exclusive property is latest connected to the troubled group to be placed in foreclosure, records show
Oct.30 2021 18:52 PM
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Fang Wei’s Fangda Group steps in as strategic investor under plan approved by creditors covering core businesses
Oct.27 2021 04:42 AM
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A coal shortage and a resurgent economy are forcing electricity rationing to industry and households alike
Oct.2 2021 17:00 PM
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China’s regulators ask banks to protect homebuyers’ interests. Electric utilities in a handful of provinces get the nod to raise power prices
Oct.1 2021 09:40 AM
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Working group picks a little-known steelmaker to rescue the conglomerate’s flagship airline
Sep.30 2021 21:16 PM
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China-related SPAC projects express interest in raising funds in Singapore. A former banking regulator is accused of taking bribes
Sep.29 2021 08:43 AM
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Creditors want 400 billion yuan from financially troubled Hainan Airlines, but now they will be asked to accept far less
Sep.28 2021 20:45 PM
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China and the EU are expected to publish the first set of common classification standards for sustainable finance by the end of this year
Sep.28 2021 09:32 AM