Hong Kong Airlines file for debt restructuring amounting to $6.2bn

Hong Kong Airlines (HKA) has filed for debt restructuring amounting to $6.2bn in the Hong Kong and UK courts to avoid insolvency, reports Bloomberg. The Hong Kong and UK court hearings are scheduled on October 13 2022 and October 25, 2022, respectively. HKA is linked to China’s HNA Group and has debts amounting to over $6.2 billion, the airline said in a statement. According to sources, the restructuring proposal needs 75% of creditors and has currently received approval from about 73%. A failure in securing approval will likely lead to an insolvency liquidation. Financial and operating aircraft lessors are seeking