UPDATE 1-HNA asks China's Hainan govt for help as coronavirus lifts liquidity risks [Reuters]
China Eastern Airlines Corporation Ltd. (CEA)
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Source: Reuters
UPDATE 1-HNA asks China's Hainan govt for help as coronavirus lifts liquidity risks (Adds background, details) By Gabriel Crossley and Zoey Zhang BEIJING, Feb 29 (Reuters) - HNA Group has asked the government of China’s province of Hainan to lead a work group dedicated to resolving its increasing liquidity risks after a slowdown in business caused by the coronavirus outbreak. HNA Group is not able to thoroughly deal with liquidity risks itself, the company said in a post on its official WeChat account on Saturday. HNA directly owns or holds stakes in a number of local Chinese carriers, including Hainan Airlines, and is among many companies pressured by the coronavirus outbreak that has forced widespread flight cancellations. The work group is being led by Gu Gang, chairman of Hainan Development Holdings Co., an investment arm of the government of the southern province, the WeChat post said. Officials from the Hainan Yangpu Economic Development Zone, the Civil Aviation Administration o
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