Shares in Hainan Airlines rise 5.6% after HNA Group asks govt for help
02/03/2020 01:28
BEIJING/SHANGHAI, March 2 (Reuters) - Shares in Hainan
Airlines 600221.SS , the flagship carrier of HNA Group
HNAIRC.UL , opened 5.6% higher on Monday after the Chinese
conglomerate said it had asked the government to help it resolve
liquidity risks caused by the coronavirus outbreak.
HNA Group, which was once one of China's most aggressive
dealmaking firms, said on Saturday it had asked the government
of China's province of Hainan to lead a work group as it was not
able to deal with the liquidity risks itself. urn:newsml:reuters.com:*:nL4N2AT09M
HNA directly owns or holds stakes in a number of local
Chinese carriers, and is among many companies pressured by the
coronavirus outbreak that has forced widespread flight
cancellations.
(Reporting by Stella Qiu in Beijing and Brenda Goh in Shanghai;
Editing by Muralikumar Anantharaman)
((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters
Messaging: brenda.goh.thomsonreuters.com@reuters.net))