Chinese Airline Group HNA Gets Govt. Aid

HNA Group, a shareholder of Hainan Airlines, said it had received a CNY500 million yuan (USD$73 million) cash injection from the Tianjin municipal government, becoming the third airline group that has received aid from the government as the economy slows.
HNA's Grand China Express, a regional carrier based in the northern Chinese city of Tianjin, got CNY200 million in aid from the government, while its leasing unit got CNY300 million, HNA said in a statement.
The parent groups of China Eastern Airlines and China Southern Airlines, each received CNY3 billion aid from the central government recently to help ease their financial difficulties.
China Eastern and China Southern, two of the country's three biggest airlines, subsequently unveiled detailed share placement plans to their parents in exchange for the aid.