The Chinese Government set to take over HNA group and sell their assets (effectively liquidating the airline)

[HS-TQE]

This would end HNA group's final interests in Australia (namely the VA group) in this case.

Source: (CNBC) China plans to take over HNA Group and sell its airline assets as coronavirus hits business, report says

China plans to take over HNA Group Co and sell off its airline assets, as the coronavirus outbreak has hit the Chinese conglomerate’s ability to meet financial obligations, Bloomberg reported on Wednesday, citing people familiar with the matter.

The government of Hainan, the southern province where HNA is based, is in talks to take control of the conglomerate, the
report said. HNA directly controls or holds stakes in a number of local carriers, including its flagship Hainan Airlines.

 

[levelnine]

First airline to go effectively bankrupt due to Coronavirus.

Plenty more to come.

 

[only4tehlulz]

First airline to go effectively bankrupt due to Coronavirus.

Airline? They own way more than one.

As if there are not enough airplanes sitting around in Chinese airports.

This also probably means the end of HK airlines.

 

[moa999]

More pressure on the Virgin share price

 

[AviationNZ]

First airline to go effectively bankrupt due to Coronavirus.

Plenty more to come.

They were in trouble long before the Coronavirus...it's purely the straw that broke the camels back!

 

[Melburnian1]

More pressure on the Virgin share price

In recent days it's dropped from 15 cents to 14 and now 13. Hmmm. I wouldn't be a buyer at two cents.

 

[AIRwin]

I wouldn't be a buyer at two cents.

Your 2 cents' worth...