The governor of China’s Hainan province told Reuters he believes HNA Group will eventually resolve its liquidity issues, adding that a government-led working group had helped mitigate the impact of the coronavirus pandemic for the troubled aviation and tourism group.
Responding to written questions from Reuters, Hainan Governor Shen Xiaoming did not go in detail into how the working group was helping HNA, saying only that steps taken so far had helped to reassure creditors.
“The working group has effectively helped stabilise the confidence of creditors, the market and HNA’s employees,” Shen wrote, adding that as a result the company was still in business, reports Reuters.