The highest court in China’s Hainan province has approved applications from creditors to place 10 affiliates of Hainan Airlines Holding in bankruptcy reorganisation, including six airlines, a 10 February filing to the Shanghai Stock Exchange shows.
The airlines are Grand China Air, Air Changan, Lucky Air, Fuzhou Airlines, Urumqi Air and GX Airlines.
Cirium fleets data shows the rulings put 96 leased aircraft at risk as the outcome of the bankruptcy reorganisation is uncertain, although a leasing source who recently spoke to HNA affiliates told Cirium on 9 February that the airlines sought to give assurance that operating lessors’ interests would be protected.
“Nothing was discussed in their rescue plan about operating…