Cathay Group Hong Kong
Cathay Group Hong Kong
Cathay Group Hong Kong
News summary

The Cathay Group has completed its repayment of the Hong Kong SAR Government's HK$19.5 billion investment, having bought back the remaining 50 percent of preference shares worth HK$9.75 billion. This milestone follows the initial buyback of half the shares in December 2023 and the payment of a total of HK$2.44 billion in preference share dividends. Cathay Group CEO Ronald Lam emphasized the company's gratitude for governmental support during its 2020 recapitalisation amid the pandemic and expressed optimism about future growth and contributions to Hong Kong's aviation hub development. The recapitalisation package in 2020 totaled HK$39 billion, which also included rights issues and an unused bridge loan facility. Lam stated that Cathay's rebound has progressed well, allowing for these repayments just 18 months after Hong Kong's reopening. Looking ahead, the airline plans to continue making substantial investments to ensure long-term growth and positive impact.

Story Coverage
Bias Distribution
100% Center
Information Sources
813f7e30-3236-487b-95e1-6bf60d395e10
Center 100%
Coverage Details
Total News Sources
1
Left
0
Center
1
Right
0
Unrated
0
Last Updated
44 days ago
Bias Distribution
100% Center
Related News
Daily Index

19Negative

Serious

Neutral

Optimistic

Positive

Ask VT AI
Story Coverage
Subscribe

Stay in the know

Get the latest news, exclusive insights, and curated content delivered straight to your inbox.

Related News
Recommended News