HAIKOU, February 29. /TASS/. The Hainan authorities have taken control over Hainan Airlines due to high risks for the company's business amid coronavirus coronavirus outbreak, reads the company's statement published on Saturday. 

“Since the end of 2017, due to the growth of spontaneous risks, Hainan Airlines, with full support, has launched the "self-rescue" project, however, it was unable to completely overcome the negative factors,” says the statement. “Since the beginning of 2020, due to coronavirus outbreak the risks have increased even more. Thus, the Hainan administration, together with the competent authorities, sent specialists to set up a [controlling] working group in the company. "

According to the statement, the joint commission includes representatives of the airline’s management, the Yangpu economic development zone officials, members of the Chinese Civil Aviation Authority and the loan management structure of the China Development Bank.