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Tag: cathay pacific

Cathay Pacific unveils US$5 billion bailout plan

Troubled Hong Kong airline Cathay Pacific announced a HK$39 billion ($5 billion) government-led bailout plan on Tuesday as it battles a crippling downturn caused by the coronavirus. Like many carriers hammered by the crisis, the company has seen passenger numbers evaporate in recent months, leaving most of its […]

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Cathay Pacific to buy budget airline HK Express for $628 mn

Hong Kong flag carrier Cathay Pacific announced Wednesday that it will buy budget airline HK Express for US$628.15 million, as it moves to counter competition from the increasing number of low-cost carriers in the region. The HK$4.93 billion acquisition leaves Cathay Pacific in control of three of the […]

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