Hainan Airlines is taking some control over HNA which hesitates about maintaining shares in Hilton Grand Vacations.
As part of HNA’s asset reorganisation, Hainan Airlines will take over stakes owned by its parent HNA Group in the following activities: two local airlines and five other aviation and tourism businesses.
Hainan Airlines will take control over West Air and Guilin Airlines, maintenance, repair, and overhaul service providers HNA Technic and SR Technics, flight school Hainan Sky Plumage Flight Training, hotel investment as well as the management platform HNA Hospitality Group and an unnamed overseas hotel operator.
HNA is also still in talks to cede part or all of its 25% stake in Hilton Grand Vacations, for which HNA Hotel Group manages the group’s domestic hotels. The sale could represent $1.2 billion, and thus help HNA’s finances.