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HNA's Hainan Airlines, other units to receive US$5.9 billion in strategic investment - sources

HNA's Hainan Airlines, other units to receive US$5.9 billion in strategic investment - sources

FILE PHOTO: A Hainan Airlines Airbus commercial passenger aircraft is pictured in Colomiers near Toulouse, France, November 26, 2018. REUTERS/Regis Duvignau

BEIJING : China's HNA Group will receive strategic investment of 38 billion yuan (US$5.88 billion)after its restructuring which will go to eleven of its entities including its flagship carrier Hainan Airlines, two sources said on Monday.

Gu Gang, the group's party secretary and leader of the government-led working group addressing HNA's liquidity issues, disclosed the investment at a meeting of its creditors, the two sources who were familiar with the meeting's discussions told Reuters. He did not elaborate on where the investment was coming from.

(US$1 = 0.1547 Chinese yuan renminbi)

(Reporting by Cheng Leng, Yilei Sun and Brenda Goh; Editing by Louise Heavens)

Source: Reuters

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