Cathay shares plunge as bond sale announced to stem cash crisis

AFP

2021/01/28 | 433 words | LE JOURNAL DE L'AVIATION | AIR TRANSPORT

Shares in Hong Kong's marquee carrier Cathay Pacific plunged on Thursday after the struggling airline unveiled a HK$6.7-billion (US$870-million) bond sale to try to stem its rampant cash burn.The firm tumbled as much as nine percent, days after it warned new quarantine measures planned for passenger and cargo crew arriving in Hong Kong would further dent its finances.Cathay on Thursday said it would offer five-year bonds maturing in February 2026 that could also be converted into shares at a...(…)

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