HNA: is it for sale SR Technics aircraft maintenance company?
On the plate also Swissport International
The HNA Group, in an attempt to reduce its debts, would be evaluating -according to the Chinese press- the sale of the SR Technics aircraft maintenance company based in Switzerland. The idea of the Chinese conglomerate would be to sell the 80% stake of the company at a price that would be between 700 million and 1 billion dollars, but it would be a minimal decrease in the huge debt that in November it had been estimated at 90 billion dollars. In order to reopen lines of credit, HNA's management is trying to sell all the properties and activities considered "peripheral" by the Beijing government, from where it has been repeatedly requested to refocus operations only in the air transport sector. SR Technics would be part of this sector but for HNA the maintenance company purchased in 2016 from the Mubadala Emirate would be an unsustainable cost at the moment, just as it would not be the handling and airport management company Swissport International that would be put on sale from the owner HNA. The process of debt repayment will however be long and its consistency could make it really complicated, so much so in China have been prepared several emergency plans if the Hainan Group was to fail.
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