engine out: You are correct about EY. They are in a mess. Merger discussions with EK were called off when EK discovered financial skeletons in the EY closet relating to the collapse of Air Berlin. EY has been cancelling aircraft orders and reducing flying considerably. About 200 EY pilots have resigned or gone to fly with EK in the last 3 years. This figure does not include the pilots who were layed off.
The value of the EY investment in the bankrupt Alitalia may be known soon after 18 Mar 2020 if any offers are made to the Administrators for the purchase of Alitalia or any of its components. LH, AF and KL have indicated they have no interest.
The HNA group are a basket case with debt USD117B and currently losing USD14M per week. Assets are being sold at fire sale prices. One could presume HNA would accept any offer for their VA holding.