The chairmen of the board of directors of the HNA Group were arrested. However, this should not have any impact on the bankruptcy process of the main owner of Han Airport.
Chinese police have arrested the top management of insolvent Chinese airline and tourism group HNA Group. HNA announced on its official WeChat account on Friday that police have detained CEO Tan Xiangdong and Chairman Chen Feng. You are suspected of criminal acts.
The agency did not give any details, but announced that the process of bankruptcy and restructuring is continuing as planned. The group, together with its airlines and tourism subsidiaries, is facing financial difficulties and must be dismantled. The group has purchased many companies from the aviation and tourism industries around the world.
HNA filed for bankruptcy in February. The creditors applied for the reorganization of the debt-burdened company. Hahn Regional Airport belongs to the HNA conglomerate in Germany. In the past, HNA Group has also been involved in Deutsche Bank and the Hilton hotel chain.
