DiDi(US:DIDIY) Xin Lang Cai Jing·2026-01-22 01:07Core Insights - After 255 days of suspension, there seems to be a glimmer of hope for the employees of Happy Airlines regarding their unpaid wages [2][10] - The company's debt has exceeded 5 billion yuan, excluding internal wage arrears, and efforts to find new strategic investors have not yielded results [2][10] - Many employees are resorting to part-time jobs to survive, with some working as ride-hailing drivers, food delivery personnel, or even acting in short plays [2][12] Financial Situation - Happy Airlines' debt has surpassed 5 billion yuan, and the company has not resolved wage issues since its suspension on April 27, 2025 [2][10] - Employees report significant unpaid wages, with some pilots owed amounts as high as 6 to 7 million yuan [12] - The company has faced a surge in legal disputes, with 87 judicial cases reported in 2025, including 29 labor disputes [15] Operational Challenges - The company has only two operational aircraft out of the original fleet of over 20, which has severely limited its operational capacity [13] - Happy Airlines has been attempting to transition from operating the indigenous Xinzhou aircraft to Boeing 737s, but this strategy has not improved financial performance [13][14] - The management has made commitments to maintain pilot qualifications and address employee insurance issues, but many pilots have since given up on training due to a lack of progress [15] Future Outlook - The company is at risk of losing its public air transport license if operations do not resume soon, as it has been nearly a year since the suspension [16] - There are concerns that without new investment, the company may face bankruptcy [15] - The value of the airline's operating license is questioned, as it may only be valuable when there is interest from potential investors [16]