Hainan Airlines controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2025
Founder Chen Feng Sentenced to 12 Years for Breach of Trust Harming Listed Company Interests and Other Crimes
On September 24, 2021, HNA Group Chairman Chen Feng and CEO Tan Xiangdong were subjected to compulsory measures by Hainan police on suspicion of illegal and criminal activities. In April 2023, the Haikou Municipal People’s Procuratorate prosecuted them on charges of breach of trust harming listed company interests, fraudulently obtaining loans, and embezzlement by taking advantage of position. On July 18, 2025, the Haikou Intermediate People’s Court sentenced Chen Feng at first instance to 12 years in prison for the three crimes, fined him RMB 221 million, and confiscated personal property of RMB 40 million; former chairman of the supervisory board Sun Mingyu and former chairman Bao Qifa were each sentenced to 3 years and 6 months. Chen Feng stated in court that he would appeal.
2023
Hainan Airlines Warned for Failure to Truthfully Disclose Related-Party Transactions and Guarantees
The CSRC found that HNA Holdings’ relevant bond periodic reports from 2018 to 2020 omitted large non-operating related-party transactions and related-party guarantees, and that it failed to timely disclose some external guarantees. Considering that the same matter in the stock market had already been penalized in a separate case, this bond information disclosure case gave warnings to the company and relevant personnel. Progress: CSRC administrative penalty decision. Involved entity: Hainan Airlines Holding Co., Ltd.
2021
HNA Group Bankruptcy Reorganization: 321 Companies Substantively Consolidated
On January 29, 2021, HNA Group announced that creditors had applied to the Hainan High People’s Court for bankruptcy reorganization because it could not repay due debts. On February 10, the Hainan High Court accepted the application, and HNA Holdings, HNA Infrastructure, CCOOP Group, and 321 enterprises including HNA Group were reorganized in four proceedings. On October 31, the Hainan High Court issued a final ruling approving the reorganization plan; the strategic investor in the aviation main business was Liaoning Fangda Group. HNA Holdings’ controlling shareholder changed to Liaoning Fangda, and the HNA system’s asset empire, once worth hundreds of billions of yuan, collapsed.