HNA Drama update 2

Reuters:

Airlines owned by Chinese conglomerate HNA Group have missed payments due on leased aircraft, the chief executive of lessor Aergo Capital has told industry publication FlightGlobal. HNA had “stopped paying – via their owned airline subsidiaries – some lessors for leased jets for the past two to three months,” Aergo CEO Fred Browne was quoted as saying. “We only have one aircraft exposed, but I know others have a lot more,” Browne told FlightGlobal. “If those lessors turn around and say ‘no more’ and pull those aircraft out, that could truly shake the market.”

WSJ: “Pressure is mounting on China’s HNA Group Co. A Shenzhen-listed unit of the Chinese company said it scrapped plans to sell up to 5.2 billion yuan ($785.7 million) worth of shares to a small number of investors. HNA Investment recently had a market value of $741 million, down sharply from a peak of $3.5 billion in mid-2015″ Tick, Tick Tick.

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