Chinese conglomerate HNA Group seeks local government help amid coronavirus outbreak

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HNA Group, one of the biggest asset acquirers to emerge from China in the past decade, has sought the help of the Hainan provincial authorities to manage its liquidity, as the country’s coronavirus outbreak deterred travelling and imperilled the company’s debt workout plan.

HNA’s liquidity will be managed by a working committee comprising representatives from the Hainan government units, the country’s civil aviation administrator and China Development Bank, according to the company’s statement released on Saturday.

The board of directors of the Haikou-based conglomerate was reconstituted to make way . . .

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