China: default for Hainan Group
The paradox of the failure of a company in an expanding market
Among the devastating consequences of the coronavirus, there is the paradox of the failure of the Chinese conglomerate Hainan Group, involved in numerous sectors including aviation, financial services, tourism and logistics. It seemed impossible until a few weeks ago considering that China is a country in colossal expansion in the air transport sector. The company controls the carriers Hainan Airlines, Hong Kong Airlines, Tianjin Airlines, Beijing Capital Airlines, Fouzhou Airlines, Lucky Air, Urumqi Air beyond than to have holdings in Comair, Azul Brazilian, Aigle Azur and Tap Air Portugal and in various airports in Europe and in the Hilton chain.
AVIONEWS - World Aeronautical Press Agency