November 22, 2018 / 12:24 PM / 24 days ago

HNA's Deer Jet says 'Dream Jet' has attracted interest from foreign governments, Middle East buyers

BEIJING (Reuters) - A luxurious “Dream Jet” put up for sale by China’s HNA Group has attracted interest from foreign governments and wealthy Middle Eastern investors but the high price is making it tough to sell, the chairman of HNA’s private Deer Jet unit said.

Xu Lidong, chairman of HNA’s [HNAIRC.UL] wholly-owned private jet division made the comments to Reuters on the sidelines of a business jet conference in Beijing on Thursday.

Reuters has reported, citing industry sources, that the cash strapped Chinese conglomerate put the $300-million-plus, 40-seat Boeing (BA.N) 787 jet that sports a “seven-star” hotel-style cabin up for sale in July.

The jet carries the registration “2-DEER”. Xu declined to comment on what the price tag was but said, “it’s not very easy to sell. The price is a factor.”

Faced with pressure from Beijing, aviation-to-hotels group HNA has been selling real estate stakes in overseas companies and aviation-related assets after a $50-billion acquisition spree in recent years.

It has also turned to state-owned China Cinda Asset Management Co (1359.HK), among the country’s largest bad debt managers, for advice on asset disposals, Reuters reported on Thursday.

Reporting by Stella Qiu and Brenda Goh; Editing by Keith Weir

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