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232:- which caused the collapse of several local financial and real estate companies - the airline was recapitalized by the Hainan government and restructured and its name changed to Hainan Airlines (HNA) Company, Ltd. Hainan province was particularly affected by the crisis due to it being both a tourist and retirement destination that had seen a high amount of speculative development and lending. In 1995,
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30 billion yuan (US$ 3.75 billion) in assets, freeing the HNA Group to expand into other business lines. At the time, Chen owned 32.75% of Grand China
Airline Holdings shares. In 2012, the HNA Group had sales of US$ 17.5 billion and pre-tax profits of US$ 837 million. The group structure of the HNA Group is known to be extremely complicated.
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the top 100 companies, and by 2030, we want to be one of the top 50...Assets are still cheap in the U.S. and Europe, and we will continue to acquire them. We need a batch of world-class companies to emerge from China to help the country’s growth, and HNA will be one of those. We want to be everywhere."
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to establish a regional airline (Hainan
Provincial Airlines) were not successful, Chen was tasked with bringing in private expertise and investment. Chen was able to raise 250 million yuan (US$ 31.25 million) in new capital, 75% from 24 institutional investors, 20% from existing corporate staff, and
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Chen was able to go on an acquisition spree - using his holding company, the HNA Group, as the primary purchasing vehicle - and expanded its operations into logistics, retail, property, tourism, and financial services. Commenting on future growth, Chen stated in 2014: "By 2020, we can become one of
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in Hainan province. Despite the mergers and acquisitions, Hainan
Airlines remains the 4th player in China with 15% market share in 2012. In June 2006, Chen created another holding company, Grand China Airlines Holdings, to hold the airline assets of the HNA Group - then consisting of 100 planes and
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In May 2017, HNA Group's stocks fell by 16.7%, its biggest intraday drop since
November 18, 2015, following allegations by Guo Wengui of infighting and wrongdoing of Chinese leaders, although the direct causation could not be established.
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According to the HNA Group website, in 2015, the HNA Group included controlling stakes in 11 listed companies, revenues of RMB 190 billion ($ 25.6 billion USD), group assets of RMB 600 billion, and over 180,000 employees worldwide.
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HNA said on its official social media account that the pair were “placed under compulsory measures,” citing a notice from the Hainan police. It added that the company’s operations remain orderly.
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and in 1990, he went to work for the
Aviation Business Assistant to Provincial Governor in Hainan province which had seen a surge in development as a tourist destination.
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5% from the Hainan government. In 1993, Chen launched the Hainan
Airlines Company Limited China's first joint-stock air-transport enterprise. Due to the
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Washington Post: "For Hainan
Airlines’ Chen Feng, rise of resort in China provides lift for a new sky empire" By William Mellor and Jasmine Wang
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According to WSJ on
September 24, 2021, embattled Chinese conglomerate HNA Group said on Friday that its chairman Chen Feng and Chief Executive
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In 2000, the
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Minnesota Star
Tribune: "Who is HNA Group, the buyer of Carlson's hotel business?" By Kavita Kumar
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As of September 24, 2021, HNA Group was broken into 4 components due to a bankruptcy court order.
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and the National Air Regulations Bureau in China. In 1984, he won a scholarship to study at the
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South China Morning Post: "Buddhist tycoon Chen Feng built Hainan Airlines into global empire"
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invested $ 25 million in the airline for a 14.8% stake, becoming its largest shareholder.
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China Daily News: "Soros injects another US$ 25m into Hainan Airlines" By Zeng Qingkai
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Caijing.com: "Hainan Airlines to form aviation conglomerate" By Ji Minhua and Liu Gong
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133:; born June 5, 1953) is a Chinese businessman and founder of business conglomerate
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He was on the Forbes China Rich List in 2017 with a net worth of $ 1.69 billion
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Chen would get further education during his career including a M.B.A. from the
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Wharton Business School Alumni: "Chen Feng: Chairman Hainan Airlines"
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At one time, the group had the largest stake in Deutsche Bank.
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are suspected of committing crimes and have been detained.
574:"China's HNA Group goes on a global shopping spree"
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209:Maastricht School of Management
91:Maastricht School of Management
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330:and does not drink or smoke.
530:HNA Group website: "Profile"
278:Meilan International Airport
60:June 1953 (age 71)
250:China Eastern Airlines Corp
230:1997 Asian financial crisis
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623:Businesspeople from Shanxi
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168:, the son of middle-rank
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608:Chinese company founders
554:South China Morning Post
510:South China Morning Post
260:, together with partner
152:Early life and education
254:China Southern Airlines
213:Harvard Business School
539:retrieved July 2, 2016
404:retrieved June 4, 2016
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172:officials. During the
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146:United States dollars
643:Chinese billionaires
268:in August 2000 and
174:Cultural Revolution
137:, now defunct, and
628:People from Linfen
535:2016-07-02 at the
462:2015-05-04 at the
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51:Chen in April 2014
648:Chinese Buddhists
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223:After efforts by
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613:1953 births
415:"Chen Feng"
101:Businessman
79:Nationality
22:family name
602:Categories
559:2017-05-17
516:2021-09-24
424:2024-06-25
334:References
326:Chen is a
198:World Bank
98:Occupation
285:HNA Group
262:Wang Jian
258:HNA Group
215:in 2002.
190:Lufthansa
135:HNA Group
123:Chen Feng
111:HNA Group
87:Education
37:Chen Feng
586:14 April
533:Archived
460:Archived
328:Buddhist
306:Adam Tan
16:In this
194:Germany
182:Sichuan
166:Beijing
158:Huozhou
127:Chinese
82:Chinese
64:Huozhou
419:Forbes
252:, and
219:Career
202:Haikou
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68:Shanxi
20:, the
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72:China
588:2017
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