Cathay Pacific plans HK$39 billion gov’t-backed recapitalization

HONG KONG — Cathay Pacific Airways announced a recapitalization plan worth HK$39 billion led by the Hong Kong SAR government on Tuesday to help the Hong Kong-based carrier weather a severe downturn in passenger business due to anti-government protests and the coronavirus pandemic. The beleaguered airline will sell HK$19.5 billion of preference shares along with HK$1.95 […]