Reasons for HNA’s bankruptcy

The reason for HNA’s bankruptcy is: excessive mergers and acquisitions and expansion, leading to an imbalance of financial leverage. In 2010 and 2011 alone, HNA successively acquired companies including: Australian AllCO Group aviation leasing business, Turkish aircraft maintenance company MY TECHNIC, Norwegian listed company GTB, etc. Over the past few years, HNA's M&A investment has exceeded US$40 billion, covering a wide range and large scale. After this round of mergers and acquisitions, HNA’s main business accounted for less than 40%. HNA has increasingly deviated from its original development track.

HNA Group is a large enterprise group, covering a wide range of industries including aviation, tourism, finance, real estate and even logistics and oil and gas resources; Its subsidiaries include Deutsche Bank, Hualong Securities, Haiyue Holdings, Northeast Electric, Caesars Travel, etc.; the aviation industry under HNA Group is mainly owned by China Hainan Airlines Holding Co., Ltd., referred to as "HNA Holdings", and is an airline represented by Hainan Airlines. Industry.

Since its establishment in 1993, HNA Group has experienced 26 years of development and has developed from a single local air transport enterprise into a multinational enterprise group. HNA Group takes the main business of air transportation as its core development direction, and uses aviation leasing and aviation technology as auxiliary support platforms to lay a solid foundation for the sustainable development of its main business.

Hainan Airlines is one of the four major airlines in China. It has a young and luxurious fleet of mainly Boeing 787, Boeing 737 series, Airbus A350 series and Airbus A330 series. It is suitable for passenger and cargo flights and provides passengers with Create a high-quality first class cabin with independent space and a spacious and comfortable new business class cabin.