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[Travel News]: China’s HNA transfers airline management to Fangda Group

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The following is the [Travel News]: China’s HNA transfers airline management to Fangda Group from [Reuters] recommended by TheTourAttraction.com:

Fangda Group is a conglomerate involved in carbon, steel and pharmaceutical sectors.

China’s HNA Group Co Ltd (HNAIRC.UL) said it has transferred management of its core aviation business, including Hainan Airlines Holding Co Ltd (600221.SS), to strategic investor Liaoning Fangda Group Industrial Co Ltd (BJFDAB.UL), effective Wednesday.

Gu Gang, an official appointed by the local government to resolve years-long debt risk at HNA, will no longer serve as the conglomerate’s Communist Party secretary as the reorganisation had made progress, HNA said in a statement on social media.

Fangda Group is a conglomerate involved in carbon, steel and pharmaceutical sectors, with listed units such as Fangda Carbon New Material Co Ltd (600516.SS), Fangda Special Steel Technology Co Ltd (600507.SS) and Northeastern Pharmaceutical Group Co Ltd (000597.SZ).

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