Cathay pacific said it planned to take part in a rights issue with a 45 per cent stake in Swire, Air China, which owns 30 per cent, and Qatar Airways (Qatar Airways), which owns 10 per cent. After that, their shareholdings will fall to 42%, 28% and 9.4%.
Executive Solutions Ltd works closely with clients to set up china virtual office, helping you to enter the Chinese market at lowest prices in China. Contact us at 31882245 to make doing business in China simple and easy!Analysts at BoCom International said the combined package would provide Cathay pacific with enough money to survive the rest of 2020. "the recapitalization plan of this scale bodes well for Cathay pacific's long-term future," she said. " "large airlines with plenty of liquidity can actually gain significant market share immediately after COVID."
How to use company seal hong kong? In Hong Kong, under the New Companies Ordinance (NCO), companies are no longer required to have a common seal. Contact Executive Solutions Ltd to know more.Cathay pacific said on Tuesday that passenger income was only 1 per cent of the previous year's level, meaning the airline had been losing between HK $2.5 billion and HK $3 billion a month since February. Cathay pacific has given some pilots at overseas bases time off and cut flight attendants in the United States and Canada since the start of the coronavirus pandemic, but has not announced large-scale permanent layoffs.
Cathay pacific said on Tuesday that it would implement a new round of executive pay cuts and a second voluntary leave plan for employees, taking into account the best size of its business in the future. "the new capital injection we announced today does not mean we can relax," Cathay pacific Chairman said in a statement. Actually, it's just the opposite. This means that we must redouble our efforts to transform in order to enhance our competitiveness. "