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China debt crunch

HNA restructuring advances with $5.7bn airline funding

Investors for infrastructure unit approve capital expansion

A Hainan Airlines Boeing 787 in Beijing: The carrier is the core unit of Chinese conglomerate HNA Group.   © Reuters

HONG KONG -- Bankrupt Chinese conglomerate HNA Group has moved a step forward in its restructuring process this week with a plan to inject fresh capital into its core airline and infrastructure subsidiaries.

Investors in Hainan Airlines Holding agreed on Monday to a plan to double its capital base and allot new shares to a designated strategic investor and a group of creditors who will be compensated in stock, according to an announcement.

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