HNA Units, including Hainan Airlines, slump after lifting trading halts

Shares in China's Hainan Airlines slumped by 9.9% on Friday, close to its daily limit, after a six-month trading suspension during which it undertook a restructuring that would change its owner. Trading in Hainan Airlines' shares had been suspended since January, as had shares in six other mainland-listed companies linked to Chinese conglomerate HNA which is under financing pressure following a $50b buying spree. Its slump reflects ongoing investor jitters around HNA, whose opaque ownership structure and debt-fuelled acquisitions have sparked global regulatory scrutiny. Hainan Airlines, China's fourth-largest airline which is also considered HNA's crown jewel, said in June that its owner would become Hainan Province Cihang Foundation, which is connected to HNA Group, after its restructuring.<br/>