SHANGHAI, Feb 20 (Reuters) - Debt-laden HNA Group has restructured jet orders with Europe's Airbus
SHANGHAI, Feb 20 (Reuters) – Debt-laden HNA Group has restructured jet orders with Europe’s Airbus in a compromise deal that features an order for dozens of A330neo jets, two individuals conversant in the matter mentioned, amid experiences of a wider shake-up on the Chinese language conglomerate.
Airbus final month introduced a shock order for 40 of its A330neo wide-body plane, value $12 billion at checklist costs, however the purchaser’s id was saved beneath wraps.
The sources mentioned the order, dated Dec. 23, got here from HNA Group airways and mirrored efforts already in place to hold out a restructuring of fleet plans that will see some beforehand unfulfilled jet orders fall by the wayside.
In December, HNA chairman Chen Feng mentioned the agency had confronted money stream shortages that pressured it to delay some wage funds in 2019, however vowed to resolve its liquidity dangers this 12 months.
On Wednesday, Bloomberg Information reported that China plans to take over HNA Group and unload its airline property because the coronavirus…