Cathay Pacific unveils US$5 billion bailout plan

AFP

2020/06/10 | 608 words | LE JOURNAL DE L'AVIATION | AIR TRANSPORT
Cathay Pacific unveils US$5 billion bailout plan © Le Journal de l'Aviation - All rights reserved

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.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 haemorrhaging cash.The airline was already under pressure after taking a hit from months of sometimes violent protests in Hong Kong last year th...(…)

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