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Cathay Pacific Airways Ltd (0293.HK)

0293.HK on Hong Kong Stock

5.94HKD
18 Sep 2020
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Latest Key Developments (Source: Significant Developments)

Cathay Pacific Airways Says Made Application To Stock Exchange To List US$2 Bln Medium Term Note Programme
Monday, 17 Aug 2020 

Aug 17 (Reuters) - Cathay Pacific Airways Ltd <0293.HK>::APPLICATION MADE TO STOCK EXCHANGE FOR LISTING OF US$2 BILLION MEDIUM TERM NOTE PROGRAMME.LISTING OF PROGRAMME IS EXPECTED TO BECOME EFFECTIVE ON 18 AUG.  Full Article

Cathay Pacific Airways Announces Completion Of Preference Shares And Warrants Issue
Wednesday, 12 Aug 2020 

Aug 12 (Reuters) - Cathay Pacific Airways Ltd <0293.HK>::ANNOUNCES COMPLETION OF PREFERENCE SHARES AND WARRANTS ISSUE.  Full Article

Cathay Pacific Airways Says Rights Issue Was Over-Subscribed
Friday, 7 Aug 2020 

Aug 7 (Reuters) - Cathay Pacific Airways Ltd <0293.HK>::RIGHTS ISSUE WAS OVER-SUBSCRIBED.SWIRE PACIFIC, AIR CHINA & QATAR AIRWAYS SUBSCRIBED FOR 1.13 BILLION SHARES, 750.8 MILLION & 250.1 MILLION RIGHTS SHARES, RESPECTIVELY.IN VIEW OF OVER-SUBSCRIPTION OF RIGHTS SHARES, TO ALLOCATE 62.4 MILLION RIGHTS SHARES TO QUALIFYING SHAREHOLDERS.  Full Article

Swire Pacific Refers To Estimated Net Loss Of Cathay Pacific Announcement
Friday, 17 Jul 2020 

July 17 (Reuters) - Swire Pacific Ltd <0019.HK>::SHARE OF ESTIMATED NET LOSS OF CATHAY PACIFIC ATTRIBUTABLE TO SHAREHOLDERS OF CO IS ABOUT HK$4.5 BILLION.  Full Article

Cathay Pacific Airways Government Of Hong Kong Special Administrative Region Designated Two Observers To Board
Tuesday, 14 Jul 2020 

July 14 (Reuters) - Cathay Pacific Airways Ltd <0293.HK>::CARLSON TONG & MR RIMSKY YUEN DESIGNATED BY GOVERNMENT OF HONG KONG SPECIAL ADMINISTRATIVE REGION AS OBSERVERS TO BOARD.  Full Article

Hong Kong Govt Designates Two Observers To Board Of Cathay Pacific Airways With Immediate Effect
Tuesday, 14 Jul 2020 

July 14 (Reuters) - Hong Kong government: :SAYS IT DESIGNATES CARLSON TONG, RIMSKY YUEN AS OBSERVERS TO BOARD OF CATHAY PACIFIC AIRWAYS LIMITED.SAYS THE OBSERVERS HAVE NO VOTING RIGHTS AT BOARD MEETINGS.SAYS THE OBSERVERS HAVE THE RIGHT TO ATTEND AND SPEAK AT ALL MEETINGS OF THE BOARD, HAVE ACCESS TO MANAGEMENT AND TO ALL INFORMATION.  Full Article

HK Express Says It Will Extend Temporary Flight Ops Suspension To July 11
Wednesday, 10 Jun 2020 

June 10 (Reuters) - HK Express::WILL EXTEND TEMPORARY FLIGHT OPERATIONS SUSPENSION TO JULY 11 DUE TO COVID-19.PLANS TO GRADUALLY RESUME FLIGHT OPERATIONS ON 12 JULY SUBJECT TO MARKET DEVELOPMENTS.  Full Article

Air China Says Issued Irrevocable Undertaking To Cathay Pacific Regarding Rights Issue
Tuesday, 9 Jun 2020 

June 9 (Reuters) - Swire Pacific Ltd <0019.HK>::CO ISSUED IRREVOCABLE UNDERTAKING TO CATHAY PACIFIC ON 9 JUNE 2020.ALSO UNDERTAKEN NONE OF RELEVANT UNITS WILL APPLY FOR FURTHER ADDITIONAL CATHAY PACIFIC RIGHTS SHARES BY WAY OF EXCESS APPLICATION.APPLICATION MADE BY CO FOR RESUMPTION OF TRADING IN H SHARES ON STOCK EXCHANGE FROM ON 10 JUNE.IF CATHAY RIGHTS ISSUE IS MATERIALIZED, RELEVANT UNITS OF CO TO TAKE UP 750.8 MILLION CATHAY RIGHTS SHARES FOR HK$3.514 BILLION.UNDERTAKEN TO PROCURE EACH OF RELEVANT UNITS TO TAKE UP IN FULL AT HK$4.68/CATHAY RIGHTS SHARE UNDER CATHAY PACIFIC RIGHTS ISSUE.  Full Article

Cathay Pacific Announces HK$39 Bln Recapitalisation Proposal
Tuesday, 9 Jun 2020 

June 9 (Reuters) - Cathay Pacific Airways Ltd <0293.HK>::ANNOUNCES HK$39.0 BILLION RECAPITALISATION PROPOSAL.RECAPITALISATION PROPOSAL INVOLVES BRIDGE LOAN TO BE EXTENDED BY AVIATION 2020 TO CO IN AMOUNT OF HK$7.8 BILLION.WILL CONTINUE TO EXPLORE OPPORTUNITIES TO IMPROVE CATHAY PACIFIC'S CAPITAL STRUCTURE.RIGHTS ISSUE OF 2.5 MILLION SHARES OF 7 RIGHTS SHARES FOR EVERY 11 EXISTING SHARES AT SUBSCRIPTION PRICE OF HK$4.68 TO RAISE HK$11.7 BILLION.MAY FURTHER ACCESS EQUITY AND DEBT CAPITAL MARKETS IN ORDER TO STRENGTHEN BALANCE SHEET.INTENDS TO IMPLEMENT A FURTHER ROUND OF EXECUTIVE PAY CUTS AND A SECOND VOLUNTARY SPECIAL LEAVE SCHEME FOR EMPLOYEES.IN LONGER TERM, ALL ASPECTS OF CATHAY PACIFIC GROUP'S BUSINESS MODEL WILL BE RE-EVALUATED.EXPLORED AVAILABLE OPTIONS & BELIEVES THAT RECAPITALISATION IS REQUIRED TO ENSURE IT SUFFICIENT LIQUIDITY TO WEATHER CURRENT CRISIS.HAS BEEN LOSING CASH AT RATE OF HK$2.5 TO 3.0 BILLION PER MONTH SINCE FEB 2020.SEPARATE IRREVOCABLE UNDERTAKINGS BY SWIRE PACIFIC, AIR CHINA AND QATAR AIRWAYS TO SUBSCRIBE AT RIGHTS SUBSCRIPTION PRICE.AGREED FOR AVIATION 2020 TO APPOINT 2 OBSERVERS TO ATTEND BOARD MEETINGS AND HAVE ACCESS TO MANAGEMENT AND INFORMATION.AVIATION 2020 TO SUBSCRIBE FOR 195 MILLION PREFERENCE SHARES FOR HK$19.5 BILLION.TO ISSUE TO AVIATION 2020 WARRANTS TO SUBSCRIBE FOR UP TO 416.7 MILLION SHARES AT EXERCISE PRICE OF HK$4.68, OR TOTAL PRICE OF HK$1.95 BILLION.EXPECTS TO DESPATCH RIGHTS ISSUE DOCUMENTS TO QUALIFYING SHAREHOLDERS ON OR AROUND 22 JULY.  Full Article

Cathay Pacific Says Cathay Pacific & Cathay Dragon Carried 13,729 Passengers In April
Friday, 15 May 2020 

May 15 (Reuters) - Cathay Pacific Airways Ltd <0293.HK>::CATHAY PACIFIC & CATHAY DRAGON PASSENGER LOAD FACTOR PLUMMETED BY 62.3 PERCENT POINTS TO 21.7% IN APRIL ."COVID-19 PANDEMIC CONTINUES TO IMPACT US IN AN UNPRECEDENTED WAY".YEAR-TO- DATE UP TO APRIL, MADE AN UNAUDITED LOSS OF HK$4.5 BILLION AT FULL-SERVICE AIRLINE LEVEL.IN APRIL CATHAY PACIFIC & CATHAY DRAGON CARRIED A TOTAL OF 13,729 PASSENGERS, A DECREASE OF 99.6% COMPARED TO APRIL 2019.EXPECT THAT AVERAGE DAILY PASSENGER NUMBERS WILL REMAIN AT AROUND 500 IN MAY.IN APRIL, THE TWO AIRLINES CARRIED 84,634 TONNES OF CARGO AND MAIL, A DECREASE OF 48.3% COMPARED TO APRIL 2019.OVERALL, WE DO NOT ANTICIPATE WE WILL SEE A MEANINGFUL RECOVERY FOR AN EXTENDED PERIOD.FINANCIAL OUTLOOK CONTINUES TO BE VERY BLEAK FOR COMING FEW MONTHS AT LEAST.EXPECTS BUSINESS AND LEISURE TRAVEL WILL REMAIN SEVERELY IMPACTED FOR "FORESEEABLE FUTURE".AT END OF APRIL BEGAN LOADING CARGO IN CABINS OF BOEING 777 PASSENGER AIRCRAFT.INTENTION TO SLIGHTLY INCREASE OUR PASSENGER FLIGHT CAPACITY FROM 3% IN MAY TO 5% IN JUNE."EVALUATING ALL ASPECTS OF OUR BUSINESS".WIDELY EXPECTED THAT INTERNATIONAL TRAVEL DEMAND WILL ONLY RETURN TO PRE COVID-19 LEVELS IN A FEW YEARS."AT THIS STAGE, WE STILL SEE NO IMMEDIATE SIGNS OF IMPROVEMENT".  Full Article