How HNA’s house of cards unravelled

An acquisitive Chinese conglomerate is paying price of biting off more than it could chew. Here's how it got there.

When HNA merged its Hong Kong-based financing arm, HNA Innovation Finance, into its bigger HNA Logistics unit, it cited streamlining its operations and boosting efficiency as its rationale.

But that's only half the story. In fact HNA Group has been frantically offloading expensively acquired assets as it seeks to ease its financial distress. 

But how did the company, which started as a modest airline in the island province of Hainan, find itself in this situation A look into its background offers clues.

Private equity firms are generally in the business of taking over companies using some of their own money but also money...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222