May 17, 2018 / 8:21 AM / 11 days ago

Hainan Airlines says control of firm could change hands amid restructuring

SHANGHAI, May 17 (Reuters) - Hainan Airlines said on Thursday that control of the company could change hands as the company carries out a restructuring of its assets.

The flagship airline of the embattled Chinese conglomerate HNA Group told an online investor conference that its current controlling shareholder was Grand China Air Co, Ltd, which is also its largest shareholder. Grand China Air, in turn, is controlled by Hainan’s State-owned Assets Supervision and Administration Commission (SASAC).

This meant that the airline was currently controlled by the Hainan SASAC, it added. The firm, trading in whose shares have been suspended since January, also said it expects to apply for resumption in share trading by June 9. (Reporting by Brenda Goh Editing by Muralikumar Anantharaman)

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