TravelNews

[Travel News]: Hainan Airlines will transfer $11.24 billion in debts to affiliates

TheTourAttraction.com aims to provide the latest global travel and free travel news, travel and visa policies, and flight information. We hope to provide insights into tourism market, technology and development trends with everyone by providing the latest relevant information. Despite the raging COVID-19 epidemic in 2020, we always firmly believe that mankind will overcome the disease and the tourism market will definitely recover. TheTourAttraction.com look forward to your attention and support, and witness the development of the global tourism industry with us. Looking forward to the information TheTourAttraction.com provide can help you. We will continue to follow up and obtain the latest data, and look forward to your attention and support.

The following is the [Travel News]: Hainan Airlines will transfer $11.24 billion in debts to affiliates from [Reuters] recommended by TheTourAttraction.com:

The move was part of a plan to dispose of the company’s debts after its creditors applied for the company’s bankruptcy and restructuring late last month.

Hainan Airlines, the flagship airline under the indebted Chinese conglomerate HNA Group, plans to transfer debts worth up to 72.5 billion yuan ($11.24 billion) to affiliates including HNA Group to let them repay, it said in a statement to the Shanghai stock exchange on Tuesday.

The carrier said the move was part of a plan to dispose of its debts after its creditors applied for the company’s bankruptcy and restructuring late last month.

Hainan Airlines is operating normally and could draw in new investors despite a bankruptcy filing, embezzlement charges and large asset impairments for the carrier last week, some analysts said.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button