China’s cash-strapped HNA secures restructuring deal for West Air

China’s cash-strapped HNA secures restructuring deal for West Air

Signage for HNA Group Co. is displayed atop the company's building in Beijing, China, on Thursday, Feb. 1, 2018. Photographer: Giulia Marchi/Bloomberg

Cash-strapped Chinese conglomerate HNA Group said on Monday it has agreed to a deal to restructure its low-cost carrier West Air with a Chongqing-based asset management firm.