Cathay Pacific welcomes the Hong Kong SAR Government\u2019s agreement to extend the drawdown period of the HK$7.8 billion loan facility for 12 months.<\/p>\n\n\n\n
This arrangement extends the drawdown period of the facility to 8 June 2022. The bridge loan facility was provided to the airline as part of the HK$39 billion recapitalisation announced on 9 June 2020 to help the airline withstand the industry-wide downturn.<\/p>\n\n\n\n
Cathay Pacific Chief Executive Officer Augustus Tang said: \u201cWe greatly appreciate the Government\u2019s confidence in the airline and its long-term prospects despite the challenges brought on by the pandemic. We have not drawn down the facility over the past 12 months as we have been adopting a suite of measures to preserve cash. We are thankful for the Government\u2019s decision to extend the drawdown period, which provides us with more flexibility to manage our liquidity position.\u201d<\/p>\n\n\n\n
Source: Cathay Pacific<\/p>\n","protected":false},"excerpt":{"rendered":"
Cathay Pacific welcomes the Hong Kong SAR Government\u2019s agreement to extend the drawdown period of the HK$7.8 billion loan facility for 12 months. This arrangement extends the drawdown period of the facility to 8 June 2022. The bridge loan facility was provided to the airline as part of the HK$39 billion recapitalisation announced on 9 […]<\/p>\n","protected":false},"author":1,"featured_media":3234,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Hong Kong extends Cathay Pacific's covid loan for another year #CathayPacific #airlinenews #aviationnews","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[2,28],"tags":[140,142],"class_list":["post-3580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-airlines","category-asia-pacific","tag-cathay-pacific","tag-hong-kong"],"yoast_head":"\n