Cathay Pacific has been offered a reprieve by the Hong Kong SAR Government, which has extended the drawdown period of the HK$7.8 billion loan facility for 12 months until June 8, 2022. The bridge loan facility was provided to the airline as part of the HK$39 billion recapitalisation announced on 9 June 2020 to help the airline withstand the industry-wide downturn. “We greatly appreciate the Government’s confidence in the airline and its long-term prospects despite the challenges brought on by the pandemic,” says Cathay Pacific Chief Executive Officer Augustus Tang. “We have not drawn down the facility over the past
This content is restricted to site members.
If you are an existing user, please login below.
New users may register below.