Hainan Airlines Holding, the Shanghai-listed unit of debt-ridden HNA Group, said it is making plans that may involve a major asset restructuring, adding uncertainty to the outlook for its parent.
Shares of Hainan Airlines were suspended from trading on Wednesday, at the request of the company pending an announcement. The suspension come one day after HNA said it would use more shares in the listed firm as collateral to meet the holding companys cash needs.
Important matters related to the company are being planned, Hainan Airlines said in a filing to the Shanghai Stock Exchange. It is still unknown whether these plans will amount to a major asset restructuring.
The company did not specify when the shares would resume trading…
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