Stock Groups

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


© Reuters. FILEPHOTO: This is the Hainan Airlines Airbus Commercial Passenger Airplane, taken in Colomiers (near Toulouse), France, 26 November 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 tell Reuters that China’s HNA Group will be receiving strategic investment in the amount of 38 billion yuan ($5.9billion) following its restructuring. This will be distributed to 11 of its entities, including Hainan Airlines.

Hainan Airlines also stated in separate statements Monday that they would be using funds from strategic investors as well future operating income for debt repayments.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs are stocks, futures, indexes or Forex. The prices of Forex and CFDs are not supplied by exchanges. However, market makers provide the prices. This means that prices might not reflect actual market prices and prices could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these 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. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.