CHINESE airline group HNA Group will receive a strategic investment of CNY38 billion (US$5.88 billion) after restructuring, Reuters reports.
The investment will go to 11 of its units including its flagship carrier Hainan Airlines, according to two sources.
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.
One source did not elaborate on where the investment was coming from but said about CNY25 billion would go to Hainan Airlines to restore cashflow.
SeaNews Turkey
The investment will go to 11 of its units including its flagship carrier Hainan Airlines, according to two sources.
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.
One source did not elaborate on where the investment was coming from but said about CNY25 billion would go to Hainan Airlines to restore cashflow.
SeaNews Turkey