HNA to guarantee $60m in aircraft lease

Hainan Airlines Holding (SSE:600221) announced it will guarantee up to USD 60 million for its subsidiary, Yunnan Xiangpeng Airlines, to lease one B737-800 aircraft from Tianjin Yujin Aircraft Leasing. The guarantee is related to an aircraft lease agreement. As of the announcement date, HNA’s existing guarantees for Xiangpeng totaled CNY 2.093 billion. HNA's total external guarantees stand at CNY 24.88 billion, representing 109.47% of the company's latest audited net assets. The approval was secured at the company's 2024 annual general meeting, with the board having already approved the details. Yunnan Xiangpeng Airlines' debt to asset ratio exceeds 70%.