Hainan Airlines breaks away from HNA Group

The restructuring of the insolvent conglomerate HNA is making progress. Hainan Airlines, a core company of HNA, is getting a new shareholder in the form of investor Liaoning Fangda, which is also to control operations. Fangda had entered the rescue process as a backer in September. „We wish Hainan Airlines and all the brother airlines a safe landing, and rebirth after nirvana!“ the HNA Group announced on Wednesday.