HNA Group sold USD43.2bn in assets in 2018

Hainan Airlines Group (HNA Group) chairman Chen Feng said the group sold CNY300 billion (USD43.2 billion) of assets in 2018 (Caijing/21st Century Business Herald, 16-Nov-2018). Total assets declined from CNY1230 billion (USD177.3 billion) as of the end of 2017 to CNY1100 billion (USD158.6 billion) as of 1H2018. The group expects the debt ratio to decline from 59% to less than 50% upon completion of asset optimisation.