HNA Group is on the point of being taken over by the Chinese government and dismantled according to reports. The coronavirus outbreak in the country has hit the conglomerate’s ability to meet financial obligations, leaving it vulnerable to default.
HNA Group has revealed it plans to sell some or all of its stake in hotel giant Hilton. The stake, valued at just over $6 billion, will provide cash for the heavily indebted conglomerate as it seeks to battle a lack of liquidity.
Sabre Corporation has entered into an agreement with HNA Aviation Group to provide its airlines with software that will help create more revenue opportunities, while operating more efficiently. Sabre Airline Solutions will play a key role in helping the airlines navigate the highly complex operating environments that are seen in China and the global aviation landscape.