Cathay Pacific Airways Ltd announced on Tuesday a recapitalisation plan worth HK$39 billion ($5.03 billion) led by the Hong Kong government to help it weather the coronavirus pandemic.
FILE PHOTO: Cathay Pacific aircraft are seen parked on the tarmac at the airport, following the outbreak of the new coronavirus, in Hong Kong, China March 5, 2020. REUTERS/Tyrone Siu
SYDNEY - Cathay Pacific Airways Ltd announced on Tuesday a recapitalisation plan worth HK$39 billion led by the Hong Kong government to help it weather the coronavirus pandemic. The government will be issued HK$19.5 billion of preference shares, HK$1.95 billion of warrants and will provide a HK$7.8 billion bridging loan, Cathay said.
The pact also includes a HK$11.7 billion rights issue to existing shareholders, led by Swire Pacific Ltd (
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cathay Pacific, major shareholders Swire and Air China halt trading in Hong KongCathay Pacific Airways Ltd and its major shareholders Swire Pacific Ltd and Air China Ltd halted trading in their shares in Hong Kong on Tuesday pending announcements.
Read more »
Hong Kong Disneyland and Ocean Park To Reopen ShortlyTheme parks, Hong Kong Disneyland and Ocean Park are to reopen shortly, it was announced Monday. The parks, both government-owned, have been closed since late January due to the spread of the coron…
Read more »
Japan's stance on Hong Kong praised by other G7 nations - SugaJapan was among the first nations to express its concern about China imposing a new security law, and its stance has been praised by other Group of Seven nations, chief cabinet secretary Yoshihide Suga said on Monday.
Read more »
Japan declines to join U.S., others in condemning China for Hong Kong law: KyodoJapan has decided not join the United States, Britain and others in issuing a statement scolding China for imposing a new security law, Kyodo news agency reported on Sunday, citing officials from countries involved.
Read more »
Hong Kong leader says city cannot tolerate any more 'chaos'Hong Kong leader Carrie Lam said on Tuesday the Chinese-ruled city cannot afford to tolerate any more of the 'chaos' that has roiled it over the past 12 months, with anti-government protests plunging the city into turmoil.
Read more »
Behind HSBC’s Rare Foray Into Politics Over Hong KongAfter a century and a half trying to steer a neutral course through the messy geopolitics of east versus west, HSBC has signaled its support for China over the future of Hong Kong.
Read more »