HNA Holdings plans no dividend, seeks shareholder approval

Hainan Airlines Holding (HNA Holdings) will seek shareholder approval for its 2024 earnings proposal, which recommends against any profit distribution or capitalization of reserves, due to accumulated losses exceeding one-third of its share capital. Despite improved operating data, including a 11.25% year-over-year increase in revenue to CNY65.24 billion, the decision reflects the lingering impact of a past bankruptcy restructuring and continued difficult market conditions.