Local regulator is ‘closely monitoring’ carrier amid mounting concerns over major shareholder HNA Group’s likely restructuring

Reflecting impact of slowing HK economy on aviation sector, action involving 7 jetliners may be ‘prelude to operations being shut down’

Local regulator had threatened to take action after carrier displayed signs of financial distress

Financially struggling carrier will receive at least a portion of the 4 billion yuan in loans that HNA secured earlier this week

Analysts say situation dire for company targeted by China’s deleveraging campaign as it scrambles to shed debt