Cathay Pacific recapitalisation

Cathay Pacific recapitalisation
On 9th June, Cathay Pacific Airways announced a HK$39 billion recapitalisation plan that will help the airline maintain its competitiveness and operations, while continuing its commitment to Hong Kong as an international aviation, financial and commercial hub.

The recapitalisation plan comprised three tranches:
  • Tranche A: issue of preference shares with detachable warrants for HK$19.5 billion to the Hong Kong SAR Government.
  • Tranche B: HK$11.7 billion rights issue of shares to existing shareholders of Cathay Pacific.
  • Tranche C: a HK$7.8 billion bridge loan facility provided by the Hong Kong SAR Government, available for drawdown immediately.

Cathay Pacific Chairman Patrick Healy said: "We are grateful to the HKSAR Government's capital support, which allows Cathay Pacific to maintain our operations and continue to contribute to Hong Kong's international aviation hub status. We are also grateful to our shareholders for their confidence in the long-term future of Cathay Pacific and in the ability of Cathay Pacific's management team to lead our airlines through what is the most challenging period in the Group's history."
Cathay Pacific recapitalisation

Cathay Pacific recapitalisation

Additional cargo capacity

Additional cargo capacity

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