The administrators of HNA Group’s debt restructuring program have decided on strategic investors for the Chinese conglomerate’s airline and airport businesses.
Liaoning Fangda Group Industrial Co. will be the strategic investor for HNA’s airline business while Hainan Development Holdings Co. will invest in its airport business, according to exchange filings by Hainan Airlines Holding Co. and HNA Infrastructure Investment Group Co.
Hainan Airlines and HNA Infrastructure both plan to issue new shares to the investors and for the repayment of debt. The draft restructuring plan is subject to the approval of a Chinese court.
Hainan Airlines will hold its second creditors’ meeting to review the restructuring plan on Sept. 27, and HNA Infrastructure’s creditors’ meeting will be convened the next day, according to statements to the exchange.
Southwest Airlines Co.’s next chief executive officer said the carrier is wary of sharing no-fly lists with other airlines, as advocated by Delta Air Lines Inc. to protect flight crews…View Article
The easing of U.S. and U.K. travel restrictions is breathing new life into European airline stocks.View Article
American Airlines Group Inc. pilots’ union called for the removal flight operations managers, citing years of poor performance including delays that forced the carrier to trim its schedule this summer.View Article
Airports, airlines, services companies, and travelers still have a long wait until global air traffic returns to normal. So far, the recovery has proven to be uneven by region, and…View Article
Today, the Court of the Southern District of New York’s judge approved the request for the extension of the exclusivity period to present LATAM’s Reorganization Plan until Oct. 15. As…View Article
Industry updates and weekly newsletter direct to your inbox!