Despite its debt, China’s HNA Group is looking to acquire 100 COMAC ARJ21s and 200 C919s after signing a strategic cooperation agreement with COMAC June 2.

HNA Group will use the aircraft in Chinese regional markets and to develop an African regional market using assets in Ghana acquired through a joint venture with  Ghana’s AWA Airlines.

HNA Group is also expected to forge a deeper cooperation with COMAC through MRO, training and aircraft leasing.

HNA is estimated to have a debt of about CNY600 billion and has been selling off properties and shares it holds in foreign companies to raise cash and help alleviate its liquidity crisis.