HNA Group restructuring Part 2: Foreign airport aspirations
Administration has been in the wind for China's HNA Group for a long time, and especially so since 2017, which coincidentally was the peak of its interest in airport deals.
On 29-Jan-2021 China's HNA Group - a huge multi-industry enterprise covering air transportation, airport management, hotels, logistics, real estate, retail, tourism and other related industries - applied for bankruptcy and reorganisation, after a long period of financial struggle and amid allegations of embezzlement. Creditors applied to the courts for bankruptcy proceedings because the group could not pay off due debts.
HNA is better known for its airline portfolio than for its airports, which in China are mainly smaller regional ones, and which outside China amount to just one.
Things could have been a lot different though as the Group tries to tap into China's Belt and Road initiative.
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