HNA Group expected to enter the Fortune’s 100 list
May 22, 2017 Category Travel, Weekly
HNA Group, which has been on a global shopping spree for assets over the past seven years, is expected to enter the Fortune’s list of the world’s 100 largest companies this year. HNA is the parent of Hainan Airlines and Hong Kong Airlines, and it has a 25% stake in the Hilton hotels group. It has acquired CNY330 billion in overseas assets since its major acquisitions began in 2010. The Hainan-based company, which generates CNY600 billion in annual revenue, was ranked 353rdon Fortune’s 2016 list. “Being one of the top 100 companies is a recognition,” said HNA’s Chief Investment Officer James Wang. Fortune could not be reached to confirm how HNA will be ranked in 2017. Hainan Airlines currently operates China’s fourth-largest fleet of passenger aircraft. Chen Feng began diversifying the business during the global outbreak of the severe acute respiratory syndrome (SARS) in 2003 into logistics, tourism and real estate. HNA bought 45% of Hong Kong Airlines in 2006, the South China Morning Post reports.
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