China’s Hainan Airlines rises by maximum 5% on restructuring plans

Stock Markets6 minutes ago (Sep 27, 2021 10:45PM ET)

(C) Reuters. FILE PHOTO: A Hainan Airlines Airbus commercial passenger aircraft is pictured in Colomiers near Toulouse, France, November 26, 2018. REUTERS/Regis Duvignau/File Photo

SHANGHAI (Reuters) – Shares in Hainan Airlines, the flagship carrier of embattled Chinese conglomerate HNA Group, rose as much as 5% on Monday, its maximum level allowed for the day, after it gave an update on its restructuring plans.

Sources told Reuters on Monday that China’s HNA Group will receive strategic investment of 38 billion yuan ($5.9 billion) after its restructuring, which will go to eleven of its entities including its flagship carrier Hainan Airlines.

Hainan Airlines said in a separate statement on Monday that it would use funds from strategic investors and future operating income to repay debts.

China’s Hainan Airlines rises by maximum 5% on restructuring plans

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Join the exclusive subscription today and get premium articles for free

Up Next