Cathay Pacific Repurchases 50% of Government’s Preference Shares for HK$9.75 Billion

In a significant financial move, Cathay Pacific Airways has announced the successful buyback of 50% of the government’s preference shares, amounting to HK$9.75 billion. The airline giant is set to acquire the remaining shares by the end of July next year, marking a key milestone in its financial restructuring.

This buyback initiative is part of the group’s broader recapitalization financing plan executed in 2020, where a total of HK$19.5 billion in preference shares were issued to the SAR government. The recent transaction underscores Cathay Pacific’s commitment to optimizing its capital structure and strengthening its financial position.

Cathay Pacific emphasized its dedication to shareholder value by assuring that it will continue to pay dividends on the remaining preference shares as they fall due. This strategic move aligns with the airline’s long-term financial strategy and signals a positive trajectory for the company’s financial health.

Stay tuned for updates as Cathay Pacific progresses with its plans to repurchase the remaining preference shares, marking a pivotal step in the airline’s ongoing efforts to navigate the challenges and opportunities in the aviation industry.