HNA's problems mount as airlines delay payments

Some airlines affiliated with China's HNA Group are delaying aircraft lease payments to lessors, and Export-Import Bank of China, which is a long-term financer of the group, has formed a team to handle the conglomerate's liquidity issues, several banking and leasing sources said. Executives from leasing units of Chinese lenders including Bank of China, China Minsheng Banking and Bank of Communications have held talks with some HNA-linked airlines to recover payments, the sources said. "Some payments have been delayed by over 2 months," said one senior Beijing-based executive at a Chinese lessor. He said HNA airlines had informed the lessor that payments would be made soon as they expected banks to support HNA in coming months. HNA said they are “in the process of gradually paying each lessor's fees as planned." <br/>