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​HNA's airlines have missed lease payments: Aergo chief

Airlines owned by Chinese conglomerate HNA Group have missed payments on leased aircraft, the chief executive of lessor Aergo Capital has told FlightGlobal.

Fred Browne says HNA has "stopped paying – via their owned airline subsidiaries – some lessors for leased jets for the past two to three months".

He adds: "We only have one aircraft exposed, but I know others have a lot more. If those lessors turn around and say 'No more' and pull those aircraft out, that could truly shake the market."

Other lessors have also told FlightGlobal that HNA-owned airlines missed payments, though at least one says that lease payments on some jets have now resumed.

On 29 November, S&P Global downgraded HNA's group credit rating from "B+" to "B", citing "significant debt maturities over the next several years" and “funding costs meaningfully higher than that of a year ago".

HNA has not responded to a request for comment.

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