Cathay Pacific Airways Ltd said on Tuesday that the Hong Kong government had agreed to extend the drawdown period for a HK$7.8 billion ($1.01 billion) loan facility by a year to June 2022, giving it more flexibility to manage liquidity.
The bridge loan was part of a $5 billion rescue package led by the Hong Kong government and Cathay‘s major shareholders Swire Pacific Ltd and Air China Ltd last year to help the airline weather the COVID-19 crisis.
