Hong Kong will provide Cathay Pacific the bulk of a $5 billion funding package that might also give the government a minority stake in the 73-year-old company
Hong Kong’s government is leading a bailout of the city’s flagship carrier Cathay Pacific Airways Ltd., providing it with the bulk of a $5 billion funding package that might also give the government a minority stake in the 73-year-old company.
Cathay on Tuesday said it will receive a $1 billion bridge loan at a low interest rate from a government-owned company called Aviation 2020 Ltd., which will also buy $2.5 billion worth of preference shares in the airline.
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