China's HNA says management of its airlines transferred to Liaoning Fangda group

China's HNA Group said on Wednesday the management of its core aviation business, including Hainan Airlines, will be transfered to the strategic investor Liaoning Fangda Group, as of Dec. 8.

Gu Gang, an official appointed by local government to resolve the years-long debt risks at the company, will no longer serve as the Communist Party secretary, HNA said in a statement on its official social media account.

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