Private company

HNA Group

Former Chinese conglomerate

HNA Group Co., Ltd., was a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it was involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more. It was the owner of Hainan Airlines and a part owner of Grand China Air.3 Wikipedia text CC BY-SA 4.0

Last updated Oct 20, 2026.

Overview

2000Founded1
  • HeadquartersHaikou1
  • Legal formprivately held company1
HNA Building
Photo: Baycrest, CC BY-SA 2.5, via Wikimedia Commons5

HNA Group Co., Ltd., was a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it was involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more. It was the owner of Hainan Airlines and a part owner of Grand China Air.3

Corporate structure

HNA Group sits at the top of its group. 8 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • HNA Group Haikou
    • Africa World Airlines Subsidiary · Accra
    • Fuzhou Airlines Subsidiary · Fuzhou Changle International Airport
    • Lucky Air Subsidiary · Kunming
    • Seaco Subsidiary
    • HNA Technology Group Co., Ltd. Subsidiary · 65.67% · China
    • HNA EcoTech Group Co., Ltd. Subsidiary · China

Built from subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What HNA Group reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Stakes and holdings (Wikidata)

  • HNA Technology Group Co., Ltd. 65.7%
  • HNA EcoTech Group Co., Ltd.
  • Seaco

Things Wikidata records the company as owning, with the share when stated.1

The story

In 1993, Chen Feng, Wang Jian, Tan Xiangdong, among others, created Hainan Airlines, with approval by the Hainan Provincial Government. Following a restructuring of the airline in 1997, they founded HNA Group Co. Ltd. in January 2000. After this, the Group underwent great diversification, entering multiple industries such as tourism and logistics. It also significantly expanded its involvement with both national and international companies. These included several airlines, NH Hotel Group, Uber, and an office tower and a hotel in New York City. HNA Group had spent more than US$3 billion on foreign acquisitions. It had intended to be one of the top 50 companies in the world by 2030.

In October 2005, Soros Quantum Fund invested $25 million stake in HNA Group.

On February 18, 2016, HNA reached an agreement to acquire Ingram Micro Inc, a California-based technology distributor, for $6 billion, in the largest Chinese takeover of a US information technology company. HNA Group was then advised by China International Capital Corporation in the transaction.

In July 2017, HNA was targeted by the Central Government in a set of new measures that prohibit state-owned banks from lending money to Chinese private companies to curb their foreign investment activities and also over concerns about HNA's debt levels. Several banks associated with HNA's foreign investments halted new loans since, though some had already suspended their grants before the measures were signed into effect.

A year after investing, HNA Group was in talks to sell some or all of its 25% share in Hilton Grand Vacations, a timeshare business which had spun off from Hilton Worldwide Holdings the year before.

Overall debt in 2017 is said to have reached $94 billion at a borrowing cost of $5 billion for the full year. To ease the burden, the company disposed of assets worth $13 billion. The liquidity shortage also led the non-delivery of up to six Airbus A330 aircraft to be delivered to the group.

On 29 January 2021, HNA Group declared bankruptcy after debt restructuring efforts failed. The Hainan High Court criticized the company's corporate governance structure regarding management of its affiliates in the ruling. Hainan Airlines confirmed that it was operating as normal. Creditors were demanding the equivalent of US$187 billion in liabilities from the company. It is expected for the restructuring to take one year to complete. As part of the restructuring, most of the shares of HNA Group will be transferred to its creditors. In September 2021, founder and chairman Chen Feng and CEO Tan Xiangdong were arrested, while Chen's son Xiaofeng remained on HNA's board. The failed to restructuring makes HNA Group forced to split its assets and acquired by different buyers. In December 2021, HNA's aviation including its founding and flagship brand Hainan Airlines, was sold to Liaoning Fangda Group Industrial.

From Wikipedia’s article on HNA Group, shared under CC BY-SA 4.0.4

Products and brands

HNA Industrial Group

HNA Infrastructure Holding Group

HNA Infrastructure Investment Group

HNA Aviation (100%)

Read the full text

HNA Aviation (Hong Kong) Holdings (100%)

HNA Aviation (Hong Kong) Air Catering Holding (100%)

gategroup

HNA Innovation Finance Group

Advanced Card Systems Holdings (SEHK: 2086)

From Wikipedia’s article on HNA Group, shared under CC BY-SA 4.0.4

Subsidiaries and ownership

Subsidiaries

Also owns

From Wikidata.1

Acquisitions

  1. 2016Acquired Radisson Hotel Group1

Equity investments

As of 31 December 2019

Grand China Air (23.11%) as second largest shareholder

Haikou Meilan International Airport

Hainan Airlines (4.88% directly; additional 4.25% via subsidiary Changjiang Leasing) as second largest shareholder; Grand China Air is the largest shareholder of Hainan Airlines.

Read the full text

HNA Infrastructure

AID Partners Capital Holdings (via HNA Group Holding and subscription of convertible bond).

HNA Technology (20.76% via HNA Technology Group)

Ingram Micro (100%), it was divested in 2020 for US$7.2 billion.

Deutsche Bank (previously 9.90% as the largest shareholder as of April 2017, jointly owned by subsidiaries BL Capital Holdings and HNA Innovation Finance Group via C-QUADRAT Special Situations Dedicated Fund; stake reduced to 8.8% as of February 16, 2018 and further reduced to 6.3% as of February 16, 2019)

NH Hotel Group (29.34% as of 27 February 2017)

Acquisitions

In 2006, the HNA Group acquired two airlines in Hong Kong, Hong Kong Airlines and Hong Kong Express Airways.

In 2011, the HNA Group paid US$260 million for a foreclosure-threatened Manhattan office tower at 1180 Sixth Avenue and purchased the Cassa Hotel New York for US$126 million.

In May 2011, the HNA Group purchased a 20% interest in the NH Hotel Group for €431.6 million (US$610.7 million) and in November 2014, HNA increased its ownership to 29.5%.

In August 2011, the HNA Group purchased GE Seaco via its Bohai Leasing affiliate for US$1.05 billion, the world's 5th largest marine container leasing company.

In October 2012, the HNA Group completed its acquisition of a 48 percent stake in Aigle Azur, France's second largest airline, for €52 million.

In June 2013, the HNA Group purchased TIP Trailer Services, Europe's largest truck and trailer leasing company (with 45,000 units), from G.E. Capital.

2015

In January 2015, affiliate Bohai Leasing purchased the Bermuda-based container leasing group, Cronos Limited, for €2.18 billion.

In June 2015, HNA purchased a 6.2% interest in the South African airline, Comair.

In June 2015, HNA Group bought a 15 percent stake in Red Lion Hotels Corporation from Columbia Pacific Advisors.

In July 2015, HNA Group purchased airport ground handler Swissport International Ltd. from PAI Partners SAS for 2.73 billion Swiss francs (US$2.8 billion).

In November 2015, the HNA Group announced it would invest US$450 million in low-cost carrier Azul Brazilian Airlines, becoming its single largest shareholder, with a 23.7% interest.

In November 2015, HNA Group announced it would make a 10% investment in French hotelier Pierre & Vacances.

In late 2015, HNA Group acquired the US-based start-up travel portal Travana with an investment of US$27.5 million.

2016

In January 2016, the HNA Group via its Bohai Leasing affiliate, purchased Irish aircraft leasing company Avolon. When combined with HNA's existing aircraft leasing business, the new entity with over 500 aircraft will become the world's fourth largest aircraft leasing business by asset value.

In February 2016, the HNA Group agreed to purchase technology distributor, Ingram Micro for $6.0 billion, via its controlled affiliate, Tianjin Tianhai Investment Co Ltd.

In April 2016, the HNA Group purchased the London-based, ICE - International Currency Exchange.

In April 2016, the HNA Group purchased US$38B in sales Minneapolis-based Carlson Rezidor Hotel Group (owner of the Radisson brand) which included a majority interest in US$7 billion in sales Rezidor Hotel Group of Brussels.

In April 2016, the HNA Group purchased gategroup, the 2nd largest airline-catering company in the world, for $1.5 billion.

In May 2016, the HNA Group purchased 49.99% of Air France's catering and cleaning subsidiary, Servair, with the option to increase its stake to 80% if certain conditions are met. When combined with previously purchased Gategroup, HNA will own and operate the world's largest airline catering company.

In May 2016, the HNA Group purchased a 13% interest in Virgin Australia Holdings with the option to increase its stake to 20%.

In May 2016, the HNA Group purchased a 7% interest in private consortium Atlantic Gateway, the owner of 50% of TAP Airlines, as well as convertible shares, which if exercised, would increase its stake in Atlantic to 40% and its indirect ownership of TAP to 20%.

In July 2016, the HNA Group purchased an 80% stake in the Zurich-based aircraft maintenance organization SR Technics from Abu Dhabi's state investment company Mubadala.

In October 2016, the HNA Group announced that it would purchase 25 percent of Hilton Worldwide Holdings Inc. from the Blackstone Group LP for $6.5 billion.

2017

In January 2017, HNA Group announced the purchase of asset finance firm UDC Finance, New Zealand's largest non-bank lender, for NZL $660 million (US$460 million) by its Tip Trailer Services affiliate in Europe. The sale was still pending as of October 2017 due to regulatory issues.

In February 2017, HNA Group's HNA Capital arm purchased a 3.04% stake in Deutsche Bank. Their stake was soon after increased to 4.76% and then to 9.9% in May 2017, becoming their single largest shareholder.

In March 2017, HNA Group announced that it would purchase an 82.5% equity interest in Frankfurt–Hahn Airport, a former US military airbase which is popular with budget and cargo carriers (though 120 km from Frankfurt). This is the HNA Group's first acquisition of a non-Chinese airport.

In March 2017, HNA Property Group, an affiliate of HNA Group, announced that it would purchase 245 Park Avenue for $2.21 billion, one of the highest prices ever paid for a New York City skyscraper. HNA also announced that they would back Tishman Speyer in the construction of The Spiral, a $3.2 billion, Bjarke Ingels-designed, 65-story, 1,005-foot office tower in the Hudson Yards, Manhattan development.

In March 2017, affiliates of the HNA Group purchased a 25 percent interest in Old Mutual's U.S. asset management business for US$446 million.

In March 2017, affiliates of the HNA Group purchased an aggregate 400,000 square feet of land at the former site of the Kai Tak Airport in Hong Kong for US$1.135 billion. HNA plans to develop the land into a "world-class integrated residential complex."

In April 2017, HNA Group affiliate, Avolon, completed the purchase of CIT Group's aircraft leasing business for US$10.38 billion making HNA the 3rd largest aircraft leasing company in the world with a fleet of 868 aircraft.

In April 2017, affiliates of the HNA Group purchased from Odebrecht its 60% share in a consortium that owns 51% of Rio de Janeiro–Galeão International Airport - Brazil's second busiest airport - giving HNA a 31.6% ownership interest. The remaining shares are owned by Brazilian airport manager Empresa Brasileira de Infraestrutura Aeroportuária (Infraero) (49%) and Changi Airports International Pte Ltd (19.4%) of Singapore.

In August 2017, HNA Group purchased a 16.2% stake in Swiss-based travel retailer Dufry from Temasek and the Singapore Investment Corp. HNA Groups stake was increased to 20.92%; the value of their interest was reported to be $1.4 billion.

From Wikipedia’s article on HNA Group, shared under CC BY-SA 4.0.4

Timeline

  1. 2000Founded Founded1

SEC filer profile

How HNA Group is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHNA Group Co., Ltd.2
  • CIK0001701124
  • Incorporated inChina2
  • Fiscal year endsDecember 312
  • Business addressHna Building, No. 7 Guoxing Road, Haikou, Hainan, F4 5702032
  • Phone86-898-667399062
  • On EDGAR sinceMar 24, 20172
  • Filings14 in all: 4 (6), 3 (4), SC 13D/A (3), SC 13D (1)2

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
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