HNA Aviation Group has proposed transferring its 17% stake in West Air (China) (PN, Chongqing) to its wholly owned subsidiary HNA Group Southwest Headquarters for CNY518 million yuan (USD77.2 million), while fellow Fangda Aviation subsidiary Hainan Airlines Holding's board has approved waiving its pre-emptive right to the shares.
According to a Shanghai Stock Exchange filing dated September 8, 2026, the proposed transfer is an internal restructuring within Fangda Aviation and would not change the ultimate control of the stake. Hainan Airlines Holding's own 13.9% interest in West Air would remain unchanged.
The board approved the waiver on September 7, but the proposal remains subject to shareholder approval. Hainan Airlines Holding said it had not yet received written confirmation on whether West Air's other shareholders would also waive their pre-emptive rights.
Airline guarantees raised
At the same September 7 meeting, Hainan Airlines Holding separately approved raising its 2026 annual guarantee limit for consolidated subsidiaries from CNY9.5 billion (USD1.4 billion) to CNY23.1 billion (USD3.4 billion), again subject to shareholder approval.
The group said CNY4 billion (USD596.2 million) of the existing limit had been used by the end of August, leaving CNY19.1 billion (USD2.9 billion) available under the proposed revised limit. The actual guarantees will depend on agreements to be subsequently signed and implemented.
Airline subsidiaries eligible for the guarantees include Lucky Air (China), Urumqi Air, Fuzhou Airlines, GX Airlines, China Xinhua Airlines, Shanxi Airlines, and Changan Airlines Travel. Non-carrier units Beijing Kehang Investment and HNA Aviation Technology are also covered.
Hainan Airlines Holding has regularly provided guarantees for financing and operating the obligations of its airline subsidiaries, including recent guarantees for aircraft leases for Urumqi Air and GX Airlines.
