- BTN News
- Tuesday, 02 February 2021
The China-basedand formerly all-powerful HNA Group has been declared bankrupt.
The diversified group controlled 14 airlines, had a global fleet of 900 aircraft and held shares in firms in a multitude of travel, tourism, logistics, finance and property verticals that made it one of the most prolific investors in the world.
In total, the group boasted more than 2,300 companies and 290,000 employees.
In a statement, HNA said that on January 29, 2021, it received a ‘notice’ from the Hainan Provincial Higher Peoples Court informing it that creditors had applied “for bankruptcy and reorganisation of our group because our group could not pay off due debts”.
HNA is believed to have assets of at least US…
Read the full article at: http://www.impactpub.com.au/micebtn/85-news/btn-news/27924-hna-declared-bankrupt
