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Hainan Airlines Holding backs $3.7mn credit for HNA Technic
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Hainan Airlines Holding backs $3.7mn credit for HNA Technic
Hainan Airlines Holding has guaranteed the CNY25 million yuan (USD3.7 million) exposure portion of a CNY175 million (USD25.8 million) credit facility obtained by its 68.1%-owned MRO subsidiary HNA Technic from China Guangfa Bank's Haikou branch. The remaining CNY150 million (USD22.1 million) is classified as low-risk credit. The funds will support aircraft-part purchases and working capital. HNA Technic has provided a counter-guarantee.
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