<h1 class="pgc-h-arrow-right" data-track="1" > preface</h1>
I don't know if you have paid attention to the recent hot search, that is, there is a group of leaders wearing thin shirts standing in the cold wind video on the hot search, and the reason for this incident in the beginning is quoted from the photos of the previous Hainan Airlines flight attendant punishment station. HNA started with only 10 million assets, and later developed into a leading enterprise with 600 billion assets, and occupies a leading position in China's aviation enterprises, but now it is saddled with 1.1 trillion yuan in debt, and we are all curious about what happened in the middle. As a result, the development of Hainan Airlines has been frustrated? Due to poor management debts of 1.1 trillion yuan, it is helpless to declare bankruptcy reorganization.
<h1 class="pgc-h-arrow-right" data-track="3" > another aviation giant fell</h1>
Let's start with the first hot search, a few days ago the temperature in Beijing suddenly dropped, HNA Group leaders and management and other groups of people set off from Haikou, in the early morning when the temperature was the lowest, only wearing a thin shirt to stand outside the company base to feel the cold air, and the company's public account also released articles and took photos to upload. Why do so many leaders stand outside and blow cold wind in the early hours of the morning without sleeping?
Earlier this month, a HNA customer passed by the base when he saw a flight attendant squatting on the ground in summer clothes and skirt waiting for the bus. Touched, he immediately took a photo and sent it to the company's senior management, hoping that HNA would make corresponding adjustments to this problem. Because the temperature in Beijing has dropped too fast this year, it may not be time to wear winter clothes, but it has reached the temperature of wearing winter clothes. After seeing the customer's reaction, the business executives immediately took action.
So within a week, when we take the company's transportation, we can see that some flight attendants have changed into winter clothes, but the other part is not required to change winter clothes because they do not strictly implement the instructions of the high-level, and there are still many flight attendants wearing skirts to work, which has a hot search for a group of leaders standing in the cold wind shivering at the beginning. In this way, the company directly lets the leader experience the life of front-line employees, leading by example, as if it is a good company, but it is now encountering great difficulties.
In the data released by HNA this year, we can see that it has been in a state of loss, so why did HNA, as one of the four major airlines in China, go bankrupt and reorganize?
<h1 class="pgc-h-arrow-right" data-track="8" > the reason for hainan airlines bankruptcy and restructuring</h1>
You may not know much about the founders Chen Feng and Wang Jian, but in 1988, Hainan broke away from Guangdong and became a separate province. And because Hainan is a separate island, if we want to go, we can only take a boat or plane, so the air transport industry here is more important than other provinces. At that time, Chen Feng also saw this opportunity, so he managed to get 10 million yuan of start-up funds.
However, because China did not have the ability to build civil aviation aircraft at that time, if he wanted a good aircraft, he could only go abroad to buy, but 10 million yuan was far from enough to buy an aircraft, so he raised funds from the society and told the public about Hainan's future development plan, and in a short period of time, he had raised 250 million yuan.
After getting 250 million, he borrowed money from the bank to buy two Boeing 747s. At this time, if it were us, we would definitely be serious about business, but he did not. He mortgaged the two planes to the bank and wanted to borrow money from the bank to buy two more planes.
At that time, the bank also felt that this method was not appropriate, so it rejected his loan. He began to raise funds overseas, and at this time he also met another founder, Wang Jian. And persuaded Soros to invest in the company, which was successfully listed in just eight years, with total assets of more than 9 trillion yuan. At this time, because this company is involved in a wide range, mainly including real estate, finance, retail and hotels, the company's scale has gradually increased, and it has also occupied a relatively good position among China's four major airlines. HNA has also become an important symbol of Hainan, and its annual revenue is even more than that of the entire Hainan Province.
On the basis of the gradual expansion of the company's scale, HNA is also involved in a wider range of businesses. In 2015, it was listed on the world's top 500, and by 2019, it will also become the second largest private enterprise in China. Under the premise of better and better enterprise development, Chen Feng's appetite continues to grow. To take the simplest example, if Chen Feng gets on the elevator in the company, then other employees must come down. Therefore, the resentment of employees is getting bigger and bigger, and the instructions of superior leaders are not easy to convey.
And Chen Feng's son also directly entered the management and did not experience at the grassroots level, which was also dissatisfied by many people at this time. Another reason is that when Chen Feng was lecturing abroad, a student asked if the debt ratio of HNA enterprises is relatively high, then what should HNA do in the future? At this time, Chen Feng accused the student of ignorance, saying that the debt ratio of his company was not high.
In fact, at that time, many people could see that HNA's debt ratio was already relatively high, but Chen Feng was blindly confident. Later, when SARS broke out, the debt ratio had exceeded 94%, and it was only with the help of the Hainan government that it survived the crisis. In 2017, there was another financial crisis, and it was too late to regret it. The HNA we see is glamorous, but under the bright appearance, it has lost more than 60 billion yuan, the debt is as high as 1.1 trillion, and Chen Feng is also saddled with multiple crimes.
<h1 class="pgc-h-arrow-right" data-track="16" > conclusion</h1>
In fact, there are many reasons why HNA has gone from its brilliant beginning to its current decline, mainly because there is a problem with the management concept of the management. And some relevant experts said that there will be other groups to take over HNA after that. So what will be its fate in the future, we are not easy to say.
Today's topic: Another aviation giant bankruptcy? From an annual income of 600 billion yuan to a debt of 1.1 trillion yuan, can HNA do it again?