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China: Police arrest top executives of the HNA group

2021-09-25T12:49:24.744Z

The Chinese HNA group has been insolvent for a long time, now top managers of the group have been arrested. The renovation should continue anyway.



HNA Chairman of the Board of Directors Chen Feng (archive image)

Photo: Jason Lee / REUTERS

The top management of the insolvent Chinese aviation and tourism conglomerate HNA Group has been arrested.

CEO Tan Xiangdong and Board Chairman Chen Feng had been taken into custody by the police, HNA said on its official WeChat account.

You are suspected of having committed criminal acts.

HNA did not give any details, but announced that the bankruptcy and restructuring process was continuing as planned.

The group with its aviation and tourism subsidiaries is in financial difficulties and should be broken up.

The Hahn regional airport belongs to the conglomerate in Germany.

In the past, HNA Group was involved in Deutsche Bank and the Hilton hotel chain.

mic / Reuters

Source: spiegel

All business articles on 2021-09-25

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