Hainan Airlines structure
When you look at the cash value of a business, then the intrinsic value of this particular asset of the HNA group is not defined, as the whole organization originates from gangsters all across China who merged in creating this multi airline organization.
Haikou in the Hainan Island where they originate is only a good exmaple of their monopoly from the justice department to any other angle that could invigilate the way The Hainan Group operates. There is however the monitoring of international news and faulty behavior by Main land China, P.R.C overseeing the general conduct of business overseas for which they now have to explain how these investments in Europe and elsewhere were justifiable for the expansion of Chinese business as the HNA group is a privately own company with little dependence on governmental control, which makes it more vulnerable to audit.
Not only banks but also other institutions who have helped financially with the expansion of this monster operation have declined more involvement, but now the lawsuits filed in different venues from Hong Kong to Europe by former HNA employees at a corporate level makes of this possible defunct operation a can of worms similar to what transpired in Japan with Olympus.
Although well known for payin goerhaos the highest salaries in the industry to airline pilots, their local instructors do not speak English at the required level 4, and most assisted training is given with an interpreter, for which the Chinese Civil Aviation Authority is mostly responsible in granting licenses to a level these Chinese pilots are not. The proof is in the pudding, these pilots require a foreign experience pilot at the helm when operating international routes, with the exception of airlines in Hong Kong, the rest of China, P.R.C is a playground of wanna be speaking English pilots and controllers making of air safety a big concern.