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HNA airlines to pay overdue fuel bills to state-owned supplier
来源： 编辑：编辑部 发布：2018/03/20 14:51:23
TROUBLED Chinese aviation conglomerate HNA Group's airlines have started to pay overdue jet fuel bills, though they have yet to settle on the amount, reports Bloomberg.
The supplier, state-owned China National Aviation Fuel Group, continues to provide fuel to HNA Group's airlines under existing contracts, a spokesman for CNAF said.
Chinese aviation authorities had asked the airlines to pay overdue bills. HNA Group is in the midst of more than US$10 billion in asset sales after a debt-fueled acquisition spree in the past few years strained its finances.
The Hainan-based group is said to have targeted CNY100 billion (US$16 billion) in asset disposals by the first half of the year to ease financial pressures.
The supplier, state-owned China National Aviation Fuel Group, continues to provide fuel to HNA Group's airlines under existing contracts, a spokesman for CNAF said.
Chinese aviation authorities had asked the airlines to pay overdue bills. HNA Group is in the midst of more than US$10 billion in asset sales after a debt-fueled acquisition spree in the past few years strained its finances.
The Hainan-based group is said to have targeted CNY100 billion (US$16 billion) in asset disposals by the first half of the year to ease financial pressures.