March 24, 2020 / 9:58 AM / 11 days ago

China's HNA Group warns impact on overseas subsidiaries from coronavirus pandemic

BEIJING, March 24 (Reuters) - China’s HNA Group on Tuesday warned of the impact from the coronavirus pandemic on its overseas subsidiaries, adding that most of them had enough cashflows to cope with the impact over the short term.

But some aviation firms and hotels it owns are heavily affected, the conglomerate said in a statement on its official social media account, but they are proactively applying for support from their respective countries and local governments and have yet raised requests for help with the group.

Cashflow issues for domestic firms are gradually improving, the group said.

Reporting by Stella Qiu and Brenda Goh; Editing by Alison Williams

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