Cathay Pacific, whose majority owners are Swire Group with a 45% stake, Air China owning 29.99%, and Qatar Airways roughly 10%, was today bailed out by the Hong Kong Government. The Government will take a 6.1% stake in the airline with Swire Pacific remaining the majority shareholder. Troubled Hong Kong airline Cathay Pacific announced a HK$39 billion ($5 billion) government-led bailout plan on Tuesday as it battles a crippling downturn caused by the coronavirus. Cathay Pacific proposed the bailout as it struggles to survive the near collapse of regional travel due to the pandemic. The rescue package allows the airline to survive for now, and to plan out its future with the help of the government. Cathay Pacific will undergo a HK$39 billion (US$5 billion) capital restructuring exercise as the Hong Kong government works to keep the city’s flag carrier alive as the COVID-19 pandemic continues to hammer the global aviation industry. Cathay Pacific proposed the bailout as it struggles to survive the near collapse of regional travel due to the pandemic. The bailout package means an extension of the previously delivered US$3.5bn in the form of loans, share purchases, and new funds from issuing new stock as a plan for the carrier to stay afloat … Like many carriers hammered by the crisis, the company has seen passenger numbers evaporate in recent months, leaving most of its fleet sitting on the tarmac and the firm hemorrhaging … Trump has prepared his pardon list for family and aides—and maybe himself Trading in Cathay Pacific was halted on the Hong Kong stock exchange earlier. HONG KONG - Troubled Hong Kong airline Cathay Pacific announced a HK$39 billion ($5 billion) government-led bailout plan on Tuesday as it battles a crippling downturn caused by the coronavirus. HONG KONG: Troubled Hong Kong airline Cathay Pacific announced a HK$39 billion ($5 billion) government-led bailout plan on Tuesday as it battles a crippling downturn caused by the coronavirus. Cathay Pacific has taken a bailout from Hong Kong for US$5bn. Hong Kong (CNN Business)The Hong Kong government has agreed to lead a $5 billion bailout of Cathay Pacific (), taking a minority stake in the city's beleaguered flagship carrier. Hong Kong's government is leading a bailout of the city's flagship carrier Cathay Pacific Airways Ltd., providing it with the bulk of a $5 billion funding package that could also give the government a minority stake in the 73-year-old Cathay Pacific proposed the bailout as it struggles to survive the near collapse of regional travel due to the pandemic. Cathay Pacific has gained short term breathing room by securing the massive government-led bailout package that it needs to survive. HK$40 billion capital restructuring Hong Kong government takes the lead in a bailout … Cathay Pacific and Cathay Dragon, the group's two main carriers, reported a combined 4.5 billion Hong Kong dollar ($580 million) unaudited loss in the first four months of 2020. Hong Kong―Troubled Hong Kong airline Cathay Pacific announced a HK$39-billion (US$5 billion) government-led bailout plan on Tuesday as it battles a crippling downturn caused by the coronavirus. Hong Kong's government has bailed out Cathay Pacific airlines through a £4bn rescue package. Cathay Pacific unveils US$5 billion bailout plan The bulk of the capital will come from new shares issued to Aviation 2020, a company owned by the government. Cathay Pacific Gets USD5 Billion Bailout Led by Hong Kong Government (Yicai Global) June 9 -- Cathay Pacific Airways, whose passenger revenue has plunged to 1 percent of what it was before the coronavirus pandemic, is to get a HKD39 billion (USD5 billion) rescue package that will see the Hong Kong government become the struggling carrier’s fourth-largest shareholder. The airline said the Hong Kong government will provide HK$27.3bn (£2.7bn) in … HONG KONG, Hong Kong — Hong Kong airline Cathay Pacific announced a HK$39 billion ($5 billion) government-led bailout plan on Tuesday as it … The July 13 vote on the package of measures of equity and debt support, emanating from the government of Hong Kong and the carrier's major shareholders, comes as observers expect … Cathay’s restructuring package marks the first time the Hong Kong government has directly injected money into a private company. This file photo taken on March 13, 2019 shows a Cathay Pacific passenger plane preparing to take off from Hong Kong's international airport. MIAMI – Cathay Pacific (CX) has announced it will receive a US$5.03bn (HK$39bn) in recapitalization financing by the Government of Hong Kong in exchange for a minority stake in the company. Hong Kong govt takes stake in Cathay Pacific though $7bn rescue A government-backed lifeline lands in the lap of Cathay Pacific, but there are strings attached... Cathay Pacific will embark on a HK$39 billion (A$7bn) recapitalisation plan as it battles through unprecedented difficulty brought on by a slump in traffic due to the coronavirus outbreak and the travel restrictions that ensued. continues to hammer the global aviation industry. Troubled Hong Kong airline Cathay Pacific announced a HK$39 billion ($5 billion) government-led bailout plan on Tuesday as it battles a crippling downturn caused by … Cathay Pacific and its parent company Swire Pacific announced today that they Cathay Pacific Bailout Preserves Its Balancing Act Hong Kong’s flag carrier gets the money it needs without disturbing the shareholding status quo. Cathay Pacific proposed the bailout as it struggles to survive the near collapse of regional travel due to the pandemic. The government of Hong Kong has agreed to bailout Cathy Pacific to the tune of $5 billion by taking a minority stake in the hard-hit airline. Cathay … In the most basic sense, the bailout means Cathay Pacific avoids bankruptcy. Cathay Pacific (CX, Hong Kong Int'l) shareholders have approved, with 99% support, a government-led HKD39 billion Hong Kong dollar (USD5 billion) bailout of the airline, the Nikkei Asian Review reported. Hong Kong's government has bailed out Cathay Pacific airlines through a £4bn rescue package. Sunak explains new business support The chancellor has announced a … Cathay Pacific, one of Asia's biggest airlines, proposed the bailout as it struggles to survive the near collapse of regional travel due to the coronavirus pandemic. A government bailout will buoy the airline hit by twin crisis: the pandemic and the Hong Kong protests. 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