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HNA's problems mount as airlines delay payments

01/17/2018| 11:29:10 AM|

Underlining the growing concern by lenders over HNA's repayment obligations, the Beijing-based Exim set up a team this month to handle its debt, which the conglomerate is struggling to repay.

Some airlines affiliated with China's HNA Group are delaying aircraft lease payments to lessors, and Export-Import Bank of China, which is a long-term financer of the group, has formed a team to handle the conglomerate's liquidity issues, several banking and leasing sources said.

Executives from leasing units of Chinese lenders, including Bank of China, China Minsheng Banking Corp and Bank of Communications, have held talks with some HNA-linked airlines to recover payments, the sources said.

"Some payments have been delayed by over two months," said a senior Beijing-based executive at a Chinese lessor. He said HNA airlines had informed the lessor that payments would be made soon as they expected banks to support HNA in the coming months.

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