HNA files for bankruptcy, reorganization
By WANG ZHUOQIONG |
CHINA DAILY |
Updated: 2021-01-30 08:20
Share
CLOSE
Hainan Airlines Airbus commercial passenger aircraft is pictured in Colomiers near Toulouse, France, Nov 26, 2018. [Photo/Agencies]
HNA Group, the parent company of Hainan Airlines, has applied for bankruptcy and reorganization after a long period of financial struggles.
The conglomerate said it has received notice from the Hainan High People's Court that creditors had sought the company's bankruptcy and restructuring due to failure to repay debts.
HNA said it will cooperate with the court's review, push forward debt restructuring. It will also support the court's efforts to protect the legitimate rights and interests of the creditors and ensure normal operations of the company.