Chinese conglomerate HNA Group faces bankruptcy, restructuring

Beijing (AFP) Jan 29, 2021

Embattled Chinese conglomerate HNA Group, which has been struggling to resolve a drawn-out cash crisis, announced Friday it faces bankruptcy, in one of the biggest corporate downfalls in the country's history. The group, which owns one of China's biggest airlines - Hainan Airlines - and is China's largest private aviation conglomerate, said in a statement that its creditors had applied to