Paul Chan: Financing CATHAY PAC AIR (00293.HK) Yields ~$4B Return for Govt

　　Financial Secretary Paul Chan highlighted in a blog post that CATHAY PAC AIR (00293.HK) 0.000 (0.000%) Short selling $8.63M; Ratio 10.629% announced last Friday to buy back the remaining 50% of its preference shares in full from the government within this month. He considered this to signify a steady move towards a full recovery of Hong Kong's aviation industry.

　　Chan said the special investment arrangement, made at a special time and under special circumstances, had resulted in an all-win situation. On the one hand, Hong Kong-based CATHAY gained the liquidity it needed to weather the difficult times and restore capacity at a faster pace. At the same time, the investment brought a return of nearly $4 billion to the Treasury.

　　The Government expected CATHAY to continue to improve the quality of its services and to support and enhance Hong Kong's position as an international aviation hub. Looking ahead, local airlines should actively expand their route networks in response to the needs of economic development, business ties and public travel, and to service the construction of China's “Silk Road in the Sky”, so as to open up greater business opportunities and make travelling more convenient for Hong Kong.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-05 16:25.)

　　AAStocks Financial News