26th Feb 2012, 06:24
After scaling back the size of its IPO and payment disputes/court wrangles at its shipping affiliates are there any views about the financial strength of Hainan Airlines and other carriers in the group including Hongkong Airlines and Hongkong Express? There have been a few articles in the mainland Chinese press, quoting Chen Feng, which have been pretty negative and suggesting all is not well. I've also heard there is a regular "bag man" HNA flight between HK and Hainan carrying cash to keep the HNA group operation running. The reason for asking is that I'm looking to join them, but not if the operation is going to crash and burn.
26th Feb 2012, 08:39
The rumour is Hong Kong Jet (HNA's biz jet company) which have many gulfstreams on order have put a Hiring freeze on. Rumours of money problems are circling. Its meant to be a well funded operation but maybe this all just smoke and mirrors.
26th Feb 2012, 10:13
There are rumors circulating that the ICAC have taken an interest in a certain officer at Hong Kong Jet. All the previous favors granted may now be coming home to Momma. :=
26th Feb 2012, 21:23
There is no such thing as a bottomless pit of money, even in China. The richest people on this earth did not get there by making stupid investments and almost 100 on-order aircraft in a loss making operation is an absolutely huge investment, especially if they don't grow slowly and profitably, but buy every aircraft under the sun as they are doing now. Eventually those not-so-stupid investors might be tempted to pull the plug right?
27th Feb 2012, 02:01
this sounds like the kind of rumor the competition in HKG would spread to stop crew jumping ship.
27th Feb 2012, 09:11
The richest people on this earth did not get there by making stupid investments
Sorry GEH if I misunderstood but are you referring to the Chinese when you say the richest people on earth ?
With a meagre 2 in the top 100 richest in the world list ( 1 at no10 and 1 at no37 ) and both of them Hong Kongers, I would suggest that with nearly 20% of the worlds population, the mainlanders are not that bright.
As for hainan, the so called " cashed up " largest private airline in China had to get a 500,000,000 handout from the Chinese gov during the GFC so they did'nt go under, so not too sure how bright they are either.
Slickrick is on the right page with " smoke and mirrors "