HNA Group in trouble..?
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HNA Group in trouble..?
https://www.trtworld.com/business/ch...payments-12919
Appears that all is not well at HNA (Owners of airlines Bejing Capital, Hong Kong Airlines, Hainan and part owner of Azul in addition to group handling company Swissport).
Appears that all is not well at HNA (Owners of airlines Bejing Capital, Hong Kong Airlines, Hainan and part owner of Azul in addition to group handling company Swissport).
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INteresting...
With the surge in Chinese aviation, some may have argued it's a bubble waiting to burst, this may have been the first ripple in that bubble.
Whats more worrying is swissport, if this situation gets worse and worst case scenario, swissport go under with the parent, that would have serious repercussions across a much wider scale.
Probably just a bit pessimistic, but think worsst case, then everything else is an improvement
With the surge in Chinese aviation, some may have argued it's a bubble waiting to burst, this may have been the first ripple in that bubble.
Whats more worrying is swissport, if this situation gets worse and worst case scenario, swissport go under with the parent, that would have serious repercussions across a much wider scale.
Probably just a bit pessimistic, but think worsst case, then everything else is an improvement
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You do know what Swissport do? The consequences would be very serious for many airlines in the UK with the inability to check people in, offload/load their bags, loadsheets, freight, pushbacks, de-ice etc etc, they would in fact grind to a halt pretty quick!
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HNA's portfolio is huge, especially in the aviation sector.
Airlines under full HNA ownership:
Beijing Capital Airlines
Fuzhou Airlines
Grand China Air
GX Airlines
Hainan Airlines
Hong Kong Airlines
HK Express
Lucky Air
Tianjin Airlines
Urumqi Air
West Air
Suparna Air
Part Ownership
Africa World Airlines (Ghana)
Aigle Azur (France - Orly)
Comair (South Africa)
MyCargo Airlines (Turkey ops for SV)
TAP Portugal (Lisbon - Portugal)
Virgin Australia (Sydney/Melbourne AU)
HNA also own 16 airports in China alone as well as Rio's airport group.
Also own
NH Hotels
Swissport
Gate gourmet
AirFrance Catering
Avolon (Aircraft lessor)
CIT Aviation (Aircraft lessor - to be merged with Avolon)
Part owner in
Hilton Worldwide
Deutsche Bank
HNA also are part owners of many other financial companies though I didn't want to list too many.
Airlines under full HNA ownership:
Beijing Capital Airlines
Fuzhou Airlines
Grand China Air
GX Airlines
Hainan Airlines
Hong Kong Airlines
HK Express
Lucky Air
Tianjin Airlines
Urumqi Air
West Air
Suparna Air
Part Ownership
Africa World Airlines (Ghana)
Aigle Azur (France - Orly)
Comair (South Africa)
MyCargo Airlines (Turkey ops for SV)
TAP Portugal (Lisbon - Portugal)
Virgin Australia (Sydney/Melbourne AU)
HNA also own 16 airports in China alone as well as Rio's airport group.
Also own
NH Hotels
Swissport
Gate gourmet
AirFrance Catering
Avolon (Aircraft lessor)
CIT Aviation (Aircraft lessor - to be merged with Avolon)
Part owner in
Hilton Worldwide
Deutsche Bank
HNA also are part owners of many other financial companies though I didn't want to list too many.
You do know what Swissport do?
The impact of HNA defaulting on loans, and with the possible availability of that many aircraft/crew etc on to the market would have far wider repercussions.
If Swissport is profitable it would find a ready buyer. Gatwick Handling survived the demise of Laker who owned half of it, even if it was swallowed up later, Azzura lives beyond Alitalia, etc.
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Gatwick Handling was originally started in early 1972 as a 50/50 partnership between Dan Air and Laker Airways to handle their operations at LGW, the company started to pick up third party business from other airlines and therefore expanded. After the collapse of Laker in April 1982 Davies & Newman the owners of Dan Air acquired total ownership and continued operations.
Shortly afterwards 50% of Gatwick Handling was purchased equally by Delta and Northwest.
In 1992 after British Airways purchased Dan Air Gatwick Handling was owned 50/50 by Delta and Northwest.
In 1998 the Go-Ahead Group purchased the company from Delta and Northwest.
In 2000 Gatwick Handling was merged with Midland Airport Services and REED Aviation to form Aviance.
In 2009 Plane Handling the parent company of Aviance UK was sold to Dnata Handling which still exists.
So in one way or another Gatwick Handling still exists but is now owned by Dnata, quite an interesting history of that original company.
Shortly afterwards 50% of Gatwick Handling was purchased equally by Delta and Northwest.
In 1992 after British Airways purchased Dan Air Gatwick Handling was owned 50/50 by Delta and Northwest.
In 1998 the Go-Ahead Group purchased the company from Delta and Northwest.
In 2000 Gatwick Handling was merged with Midland Airport Services and REED Aviation to form Aviance.
In 2009 Plane Handling the parent company of Aviance UK was sold to Dnata Handling which still exists.
So in one way or another Gatwick Handling still exists but is now owned by Dnata, quite an interesting history of that original company.
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In 2009 Plane Handling the parent company of Aviance UK was sold to Dnata Handling which still exists.
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latest HNA they dont get fuel anymore since they have a stack of open bills ,also plans to cut 100000 jobs thats 25 percent workforce of the group.the leverage debtsystem looks to fall apart due to weak growth looks like chinese casino
I knew that HNA have an unpaid fuel bill of $476m and are possibly intending to cut 100,000 jobs, but I wasn't aware that fuel supplies had stopped. Do you perhaps have a source for your statement that they don't get fuel any more ?
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Do you have any source for the job-cut figure?
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latest interview from the HNA chairman CHEN said the company has lots of troubles but off course due to an anti china conspiracy in other countries....... the co chair Wang Jian cited attacks from reactionary forces from both china and overseascountries countering the rise of china source www.mobile.nytimes.com
good luck this is the spirit from the hna boss before you arrive ........all our fault dudes
good luck this is the spirit from the hna boss before you arrive ........all our fault dudes
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I am surprised by the lack of discussion regarding HNA, they are one of the biggest aviation related companies in Asia.
It appears that government help is not an option.
https://www.reuters.com/article/us-c...-idUSKCN1GI150
HNA seem to have the view that they are being wrongly targeted over fuel payments. Threatening lawsuits. HNA Group, fuel supplier locked in payment dispute
It appears that government help is not an option.
https://www.reuters.com/article/us-c...-idUSKCN1GI150
HNA seem to have the view that they are being wrongly targeted over fuel payments. Threatening lawsuits. HNA Group, fuel supplier locked in payment dispute
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This has all the markings of a pack of dominos that could quickly start to fall one by one, feel sorry for the poor employees who are none the wiser but soon will be for sure!
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This article makes for interesting reading, suggesting that for the overall good of the Chinese economy HNA should be allowed to fail. Though they are selling various assets will the fuel companies be paid? How long before airports and other fuel companies start asking for payments upfront? That's when it starts to get messy.
https://www.bloomberg.com/view/artic...-needs-to-fail
https://www.bloomberg.com/view/artic...-needs-to-fail