Hainan Airlines’ parent company, HNA Group, will undergo a business reorganisation after creditors filed for bankruptcy and reorganisation of the group on 29 January 2021.
IATA has been in discussions with the CFO and other senior staff of the group to obtain the necessary securities to remain in its Settlement Systems.
IATA has been reassured that the restructuring is well supported by the local Hainan Government and that the airlines in the group will continue to operate with no major changes foreseen. The airlines participating in the IATA Settlement Systems of the HNA Group* have been meeting their financial obligations with IATA and are not considered a high-risk. IATA will continue to monitor their situation and any changes will be communicated to PAConf.
* Hainan Airlines (HU/880), Fuzhou Airlines (FU/666), Air Guilin (GT/730), TianJin Airlines (GS/826), Changan Airlines (9H/856), Lucky Air (8L/859), Suparna Airlines (Y8/871), Guangxi Beibu Gulf (GX/872), Urumqi Airlines (UQ/886) and Beijing Capital Airlines (JD/898)