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QINGDAO TODAY
在线翻译:
szdaily -> Markets -> 
Air China parent in talks to buy HNA’s airline assets
    2018-12-17  08:53    Shenzhen Daily

HNA Group Co. held preliminary talks to sell its core airline assets to one of China’s top State-run carriers, sources familiar with the matter said, a sign little has been off the table as the sprawling conglomerate seeks to pay down its hefty debt load.

The talks, which haven’t been previously reported, started late last year, the sources said. The State-run parent of Air China Ltd. held at least two high-level meetings to buy HNA assets including flagship Hainan Airlines Holding Co., the sources said. But discussions have cooled in the past few months and it’s unclear whether they will progress because of numerous hurdles, according to the sources.

HNA denied any such discussions occurred.

“Hainan Airlines is not for sale, full stop, and never was, and even the general conversations in question about other airline assets under Hainan Airlines Holding took place months ago,” HNA said in a statement.

Selling Hainan Airlines would have been unthinkable up until a few years ago because the carrier was HNA’s first company and it’s remained the group’s most central business for the past quarter century. But pressure on HNA to deal with its debt, one of the biggest burdens in Asia, has forced it to embark on a massive selloff. The firm, based in Hainan off China’s southern coast, agreed to sell more than US$20 billion in assets this year and more that double that remains on the block.

The Air China side made initial contact late last year after getting an endorsement from the industry regulator, the Civil Aviation Administration of China, the sources said. SD-Agencies)

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