Cathay Pacific averts financial collapse with distress call to tap the HK$4 trillion war chest of Hong Kong’s financial tsar

Hong Kong’s Financial Secretary Paul Chan Mo-po had little time to celebrate his 65th birthday in mid-March, as he would soon pick up a call asking for the famously laissez-faire city government to undertake its biggest corporate bailout in two decades.The city's flagship carrier Cathay Pacific Airways was on the brink of collapse, as air travel to one of Asia’s biggest aviation hubs fizzled out after months of anti-government protests and spreading coronavirus infections. Frantic negotiations…

from South China Morning Post https://www.scmp.com/business/banking-finance/article/3092678/cathay-pacific-averts-financial-collapse-distress-call-tap