Cathay and major shareholders Swire Pacific Ltd and Air China Ltd halted trading on Tuesday morning pending an announcement. Swire owns a 45% stake in Cathay and Air China owns 30%.
HONG KONG (June 9): Hong Kong’s government will lead a near HK$30 billion ($5.4 billion) bailout package for Cathay Pacific Airways Ltd giving it two observer seats in the boardroom, the South China Morning Post reported on Tuesday, citing sources.
The deal includes a government loan and equity stake, the newspaper said, adding it was part of a broader HK$40 billion capital restructuring exercise for the airline to help it weather the coronavirus pandemic.
