Very interested to see that last year China Minsheng Investment group (The CMI in Luxaviation) who bought a chunk of Lux in 2015 through a subsidiary Minsheng Aviation We’re in desperate trouble.... having over expanded too quickly ( according to Bloomberg) They defaulted on payments due on hundreds of millions of debt ... both interest and capital payments. In a desperate attempt to keep going they tried to raise money from their employees!
As equity investors in Lux this won’t have any immediate impact on Lux but it’s an interesting insight into the source of clearly a significant amount of Lux’s freely-spent money. One things certain....they havent got money available for further investment!
Anyone an update on the latest with CMI?