Bankrupt conglomerate HNA Group has managed to secure strategic investors for its airline and airport businesses. Months into its restructuring it brought in Liaoning Fangda Group Industrial as investor for its airlines business and Hainan Development Holdings for the airport operations unit.
Hainan government assumed control of the struggling company last year. The restructuring aims to help the two units ease its debt load and improve efficiency and profitability, they said in filings.
