Trading halt today as rumours swirl....
Join Date: Mar 2000
Location: Hong Kong, SAR.
Posts: 263
Originally Posted by Ruprect75
Do you people have any qualms about working totally for the communists????
Can't share the Bloomberg link because this forum says I need more posts...🤔
Can't share the Bloomberg link because this forum says I need more posts...🤔
Join Date: Apr 2002
Location: Australia
Age: 66
Posts: 700
From Forbes...although understand it is a straight loan via pref shares not common shares. Current common shareholders to be diluted in the ratio of 7/11.
Hong Kong Bailout For Cathay Pacific Avoids Air China Takeover
The Hong Kong government’s HK$29 billion (US$3.8 billion) bailout of Cathay Pacific gives needed cash without major shareholder Air China taking over the airline in a move neither carrier or government seems prepared for in the current sensitive political and financial environment.
Hong Kong had been an exception to major governments giving large loans or grants to airlines in the wake of the coronavirus crisis. Cathay was gradually being encircled by competitors, within Asia and further flung, with fresh cash to steer them through aviation’s worst downturn.
Cathay’s HK$39 billion (US$5 billion) recapitalisation is mostly in the form of new equity and is led by the Hong Kong government. Its future ownership structure will not significantly change as the Hong Kong government gains a 6.1% stake.
Hong Kong Bailout For Cathay Pacific Avoids Air China Takeover
The Hong Kong government’s HK$29 billion (US$3.8 billion) bailout of Cathay Pacific gives needed cash without major shareholder Air China taking over the airline in a move neither carrier or government seems prepared for in the current sensitive political and financial environment.
Hong Kong had been an exception to major governments giving large loans or grants to airlines in the wake of the coronavirus crisis. Cathay was gradually being encircled by competitors, within Asia and further flung, with fresh cash to steer them through aviation’s worst downturn.
Cathay’s HK$39 billion (US$5 billion) recapitalisation is mostly in the form of new equity and is led by the Hong Kong government. Its future ownership structure will not significantly change as the Hong Kong government gains a 6.1% stake.
Join Date: Jul 2018
Location: All over
Posts: 267
WooHoo ! Gettin' a bailout !
(looks like the financial geniuses couldn't get a floater from the various Uncle Pete's)
No need to talk concessions; we got plenty of cash to tide us over until things relight. Just gotta make sure upper management doesn't force our snouts outta the trough in order to pad THEIR bonuses and buy a new yacht.
(looks like the financial geniuses couldn't get a floater from the various Uncle Pete's)
No need to talk concessions; we got plenty of cash to tide us over until things relight. Just gotta make sure upper management doesn't force our snouts outta the trough in order to pad THEIR bonuses and buy a new yacht.
Join Date: May 2012
Location: HK
Posts: 96
Originally Posted by The Range
And what would be the outcome of an Air China takeover? Would that be good or bad for CX personnel?
