A unit of China’s HNA Group has failed to repay $750 million owed from its buyout four years ago of a US technology distributor, as the cash-strapped conglomerate’s credit problems continue to mount despite selling off a Shanghai office tower… Read More>>
Hainan Government Said Taking Over HNA as Virus Dents Cashflow
The Hainan government is said to be planning to take over HNA Group and sell off its airline assets, as the indebted conglomerate’s ongoing struggles to meet its financial obligations reach a crisis point.
The provincial government has been forced… Read More>>
Tiny Flat Frenzy Goes Bust and More Hong Kong Real Estate Headlines
The era when Hong Kong residents loved buying — and living in — apartments the size of most kitchens found in ordinary US homes appears to be over. If ever there was an indicator that Hong Kong’s decade-plus run of… Read More>>
Gaw Capital Said Moving Forward With Cityplaza Deal and More Asia Real Estate Headlines
Hong Kong’s glamorous Gaws lead the region’s real estate news again today as sources confirm that a deal to back an HK$15 billion acquisition of a pair of Quarry Bay buildings is moving forward. JD.com makes another of its frequent… Read More>>
HNA Sells Second Hilton Spin Off for $1.1B As Aviation Regulator Presses for Fuel Payment
Debt-wracked HNA Group is selling another Hilton spinoff for $1.1 billion, less than two weeks after it sold a $1.4 billion stake in Park Hotels & Resorts Inc. The mainland conglomerate is in desperate need of fresh cash as it… Read More>>
HNA Group Restructures Hotel Businesses, Plans Sale of Stake in 2nd Hilton Spin-Off
Hainan Airlines, the flagship carrier of HNA Group, will take over the group’s hotel business as part of an asset restructuring by the troubled Chinese conglomerate. Hainan Airlines announced in a filing to the Shanghai Stock Exchange that it would… Read More>>
Fuel Supplier Threatens to Cut Off Hainan Airlines as HNA Runs on Vapor
HNA’s notorious credit problems could put a sudden stop to its core business of flying airplanes if the mainland conglomerate can’t come up with a way to pay off five months of overdue fuel bills in the next 10 days.
China’s HNA Buys 10 Seattle Golf Courses for $137 Million
Mainland conglomerate HNA Group is investing more than $137 million to acquire 10 Seattle area golf courses, according to a statement filed yesterday with the Hong Kong stock exchange. The acquisition adds to an October total of nearly $11 billion… Read More>>
Hainan Airlines Founder Climbs into $47.3M NYC Condo
A founder of Hainan Airlines seems to have been so happy with the $47.4 million New York condo that he took possession of in February that he’s bought a second unit two floors up in Manhattan’s swanky One57 development.
Luckily… Read More>>