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Hongkong’s flag carrier Cathay Pacific Airways Ltd. (0293.HK) stated on Wednesday that it would repay the Hong Kong government the almost $2.52 billion worth of preference shares over a three to five-year period.
On Tuesday, the Hong Kong government has agreed to grant Cathay Pacific Airways a $5 billion recapitalization package to help the airline weather the coronavirus crisis. In exchange, the government would take a minority stake in the city’s flagship carrier.
“We would certainly be expecting to repay that over a 3 to 5 year period,” Cathay’s Chief Financial Officer Martin Murray said in an analyst briefing posted to the airline’s website on Wednesday.
According to Cathay’s Chairman Patrick Healy, the airline is grateful for the government’s capital support. The rescue deal would allow Cathay Pacific to maintain its operations and continue to contribute to Hong Kong’s international aviation industry.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...
On Monday, world shares edged towards a five-month high and the U.S. dollar decreased in late trading as investors anticipated that the earnings season would see most companies beat revenue forecasts in light of the lifted coronavirus restrictions. The ...
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...
KYC Policy