Trading halt today as rumours swirl....
 

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...🤔

As long as they pay me on time...

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.

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.

And what would be the outcome of an Air China takeover? Would that be good or bad for CX personnel?

Air China holds a slightly smaller percentage of us today so the point is not even moot.

Bailout amount is uncannily similar to the US$ amount lost on fuel hedging......

Perhaps Merlin should dip into the Family £5billion treasure chest…………..