Cathay Pacific Airways Hong Kong Government Supports 380 Billion Yen Corona June 9 20:54
Hong Kong-based Cathay Pacific has received approximately 380 billion yen in financial support from the Hong Kong government, as demand for airmail has dropped significantly due to the new coronavirus.
According to Cathay Pacific, due to the influence of the new coronavirus, passenger flight operations have been significantly reduced since April, and revenue from February has been around 1% compared to the same period last year. I will.
For this reason, they have continued to reduce executive compensation and wait for employees to stay at home, but management deterioration is unavoidable, and the government has requested assistance from the Hong Kong government and others, saying there is a risk of bankruptcy.
On the other hand, the Hong Kong government announced public support measures on the 9th, and announced that it would provide approximately 380 billion yen in financial support for HK$27.3 billion and Japanese yen.
In addition to the Hong Kong government, shareholders will purchase additional shares, which means that the group's total capital increase will be HK$39 billion and the Japanese yen will be more than 540 billion yen.
On this, Hong Kong Government Finance Minister Chen Shigerami said, "Hong Kong is one of the world's leading hub airports, connecting more than 1,000 flights a day to 220 airports around the world, and in order to protect its position, Cathay Pacific can be supported. It is necessary."