Hong Kong govt to lead $5b rescue package for Cathay Pacific

Hong Kong govt to lead $5b rescue package for Cathay Pacific

A man walks past a Cathay Pacific Airways Ltd. logo at Hong Kong International Airport in Hong Kong, China, on Tuesday, Jan. 17, 2017. Cathay, Asia’s biggest international airline, plans to shorten its fuel-hedging program and revamp its workforce as part of a new business strategy to halt a slide in earnings. Photographer: Anthony Kwan/Bloomberg

Cathay Pacific Airways Ltd announced on Tuesday a recapitalisation plan worth HK$39 billion ($5.03 billion) led by the Hong Kong government to help it weather the coronavirus pandemic.

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