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Airbus freezes deliveries of the A330 to HNA Group

HNA's series of calamities continues. Airbus decided not to deliver several A330 ordered by HNA following the Chinese conglomerate's late payments.

According to Reuters, after months of discussions, HNA wanted to postpone payment for the A330s. Airbus preferred to not deliver the airplanes which are estimated at 1.4 billion euros, than to play loan agency.

The Chinese conglomerate, which owns several airline companies, is experiencing major financial difficulties.

After the death of its co-founder and co-president, Wang Jian on July 3 in the South of France, "the sale of assets abroad will probably be accelerated, because it is in the corporation's best interest," estimates a Shanghai-based asset manager, cited in the South China Morning Post.

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