China – HNA leaders arrested – Economy

The management of the insolvent Chinese aviation and tourism conglomerate HNA Group has been arrested. CEO Tan Xiangdong and Chairman of the Board Chen Feng were arrested by police, HNA reported on its official Wechat account on Friday. You are suspected of having committed criminal acts. HNA gave no details, but announced that the bankruptcy and restructuring process is continuing as planned. The group with its aeronautical and tourist subsidiaries is in financial difficulty and should be dismantled. Hahn regional airport is owned by the German conglomerate. In the past, HNA Group was involved with Deutsche Bank and the Hilton hotel chain.

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