While this latest news illustrates the extent of HNA’s liquidity challenges – none of which will come as a surprise to readers who have been following this long-running fiasco – as well as the urgency behind it after the conglomerate spent tens of billions of dollars on debt-fueled investments to transform a little known airline into one of China’s biggest business behemoths, the scale of the funding gap will likely deepen concerns about the viability of the group, which owns stakes in everything from Deutsche Bank AG to Hilton Worldwide Holdings, as it faces scrutiny worldwide from regulators and investors.
https://www.zerohedge.com/news/2018-01-30/chinas-largest-conglomerate-verge-bankruptcy
