Hainan Airlines will take over the HNA Group’s stakes in two domestic airlines, MRO providers SR Technics and HNA Aviation Technology, and three other businesses as part of the distressed group’s ongoing asset re-organisation.

Hainan says it will assume controlling stakes in West Air, Guilin Airlines, HNA Aviation Technology, Hainan Tianyu Flight Training, Haihang Hotel Holding, SR Technics and unidentified overseas hotel operator – likely referring to its 25% stake in Park Hotels.

The West Air, Guilin Airlines and HNA Aviation Technology transactions will also involve unidentified third-party investors.

No values of the transactions were included in the disclosure, however Hainan Airlines’ shares will remain in a trading halt until 10 April as it works through the mechanics of the various deals.

The Sanya-based carrier has already disclosed that two of its subsidiaries – Tianjin Airlines and Urumqi Airlines – will issue additional equity to investment companies linked to their respective municipal governments.

The transactions appear to be part of HNA Group’s efforts to meet a liquidity crunch, following years of debt-fuelled global acquisitions.

HNA has previously announced that it will sell a majority stake in Swiss-based flight caterer GateGroup through a public offering.

The Group has also canvassed selling a 20% stake in Bohai Capital, the financier that owns aircraft lessor Avolon.

Source: Cirium Dashboard