
Chen Feng, founder of China's Hainan Airlines and HNA Group
HNA's founder and former chairman Chen Feng, and the former chief executive Adam Tan Xiangdong have been detained by police on "suspected crimes," the group said in a statement in its official WeChat account.
"HNA Group and its member enterprises are operating in a stable and orderly manner. The [company's] bankruptcy restructuring is going smoothly and its production and operations have not been affected."The detentions bring the curtains down on HNA, built on the foundations of China's most successful private carrier Hainan Airlines.
With a handful of aircraft, the carrier - with an early investment from the American financier George Soros - quickly built a business flying holiday makers and Russian tourists from China's frigid north to the country's sole tropical island, long regarded as "China's Hawaii" for its beaches, azure waters and holiday resorts.














Comment: See also: US reaches deal with Huawei's Meng Wanzhou, allowing her to return to China