Although Hainan Airlines has said that it is not in any crisis for now, billions of dollars of credit risk loom over the Shanghai-listed firm. If a crisis were to hit the airline, it would reverberate with its parent HNA Group, a private Chinese conglomerate which is struggling with its own huge debt issues. This will be especially acute, given that HNA chairman Feng Chen has described the airline as HNA’s flagship company.
The Shanghai Stock Exchange queried Hainan Airlines in May on various matters including its credit risks and relationship with HNA.
In its reply, posted...
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