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Hong Kong government to lead US$5 billion bailout of Cathay Pacific
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The Hong Kong government is to invest US$3.5 billion in Cathay Pacific to help bail out the embattled flag carrier. It is the first time the government has directly injected money into a private company. The move represents a large chunk of Cathay Pacific's US$5 billion recapitalisation plan. It aims to raise the remaining US$1.5 billion through a rights issue. Mr Subhas Menon, director-general of the Association of Asia Pacific Airlines, shared his outlook for airlines for 2H2020, and how the COVID-19 pandemic could alter business travel patterns permanently.
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