HNA turning point

HNA turning point

CHINA-HEADQUARTERED HNA Group, part owner in travel brands Hilton Worldwide and Grand China Air, has hailed 2020 as a “decisive year” in its ongoing fight against liquidity problems.

Speaking via the company’s official WeChat account last week, HNA Group Chairman Chen Feng struck a stoic tone in his forecast for the year ahead.

“We have no choice but to make utmost efforts with one heart and one mind to greet the challenges head-on,” he said.

Chen also noted the company recently held a conference in Zunyi to outline its future turnaround strategy.

Speculation has been rife that continued cash flow issues might lead HNA Group to sell off its 19% stake in Virgin Australia (TD 03 Sep 2018).

The company has also been forced to sell off its majority stake in West Air Co (TD 09 Dec 2019).

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Source: traveldaily