FILE PHOTO: A Hainan Airways Airbus business passenger plane is pictured in Colomiers close to Toulouse, France, November 26, 2018. REUTERS/Regis Duvignau/File Photograph
September 28, 2021
SHANGHAI (Reuters) – Shares in Hainan Airways, the flagship provider of embattled Chinese language conglomerate HNA Group, rose as a lot as 5% on Monday, its most stage allowed for the day, after it gave an replace on its restructuring plans.
Sources advised Reuters on Monday that China’s HNA Group will obtain strategic funding of 38 billion yuan ($5.9 billion) after its restructuring, which can go to eleven of its entities together with its flagship provider Hainan Airways.
Hainan Airways stated in a separate assertion on Monday that it will use funds from strategic buyers and future working revenue to repay money owed.
(Reporting by Brenda Goh; Modifying by Tom Hogue)