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Coronavirus: Hong Kong Rescues Cathay Pacific In £4bn Salvage Bargain

Coronavirus: Hong Kong Rescues Cathay Pacific In £4bn Salvage Bargain

Submitted by • June 9, 2020 www.ohmygeez.com

The airline said incomes had tumbled to 1% of the earlier year’s levels because of falling interest in the midst of the coronavirus pandemic. Hong Kong’s legislature has rescued Cathay Pacific airlines through a £4bn salvage bundle. The aircraft said the Hong Kong government will give HK$27.3bn (£2.7bn) in the form of preference shares, warrants and a loan.

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