HNA Group

About HNA Group

HNA Group, a Chinese conglomerate, was placed in bankruptcy administration by the Hainan government in February 2021. HNA had acquired assets worldwide including Hilton Hotels, Deutsche Bank stakes, and aviation firms. At its peak, HNA had over 600 billion yuan in assets. The company was heavily indebted. Founder Chen Feng was detained. The bankruptcy administration restructured HNA by selling assets. Hainan Airlines, the core aviation asset, was sold to Liaoning Fangda Group. The restructuring was completed in 2022. HNA had been one of the most aggressive acquirers during Chinas overseas investment boom of 2015 to 2017. The government crackdown on debt fueled acquisitions beginning in 2017 targeted HNA, Anbang, and Dalian Wanda.