HNA Holding Group, the Hong Kong-listed unit of the eponymous acquisitive Chinese conglomerate with a complex ownership structure, is planning to remove any trace of its parent from its name.
Founded as a provincial airline by economic reformers who drew on World Bank support, the parent of Hainan Airlines has grown into a sprawling, privately held international conglomerate. A $40bn deal spree has seen it build up a 9.9 per cent stake in Deutsche Bank, but regulators in China have clamped down on the company, most recently barring it from accessing capital or financing from an insurance unit it controls.