HNA Group (Hainan Airlines) misses payments on its leased aircraft

 

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In a shocking revelation Aergo Capital who lease an aircraft to the vast and sprawling HNA group who own Hainan Airlines, and others, as well as having holdings in everything from Hilton Hotels to insurance companies, Deutch Bank and Ingram Micro, and SwissPort, said that they and other leasing companies are owed money for as much as three months in arrears on several aircraft.

HNA has been on a vast $50 billion spending spree fuelled by debt, and was recently reined in by the Chinese Government when it stopped companies sending such huge amounts of capital abroad to finance these purchases.

The company is short of cash and last week was said to be considering sales of its assets to raise money.

If HNA don’t make payments, it could result in quick seizures of its aircraft and a major problem for leasing companies, as well as Boeing and Airbus.

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