HNA tells creditors it will receive $5.9b in strategic investment

China's HNA Group will receive strategic investment of 38b yuan ($5.88b) after its restructuring, which will go to eleven of its entities including its flagship carrier Hainan Airlines, two sources said Monday. Gu Gang, the group's party secretary and leader of the government-led working group addressing HNA's liquidity issues, disclosed the investment at a meeting of its creditors, the two sources who were familiar with the meeting's discussions said. He did not elaborate on where the investment was coming from but said about 25 billion yuan of the strategic investment would go to Hainan Airlines to replenish its cashflow, they said, asking not to be named because they were not authorised to speak to the press. Reuters reported earlier that the meeting was planned for Monday and that HNA would reorganise the 11 entities as one group. read more Hainan Airlines said in a separate statement on Monday that it would use funds from strategic investors and future operating income to repay the debts of the airline and of the other 10 entities.<br/>