HONG Kong flag carrier cathay Pacific has brought back all warrants issued to the Hong Kong government in 2020, another step in repaying the government for a pandemic-related recapitalization package, the company said.
The airline said the total consideration paid for the warrants buyback was about HKD$1.53 billion (US$196.2 million).
At end of July, Cathay redeemed the remaining 50 per cent of the preference shares that were also issued as part of its recapitalization.
A total of HKD2.44 billion was paid in preference share dividends. Together with the warrants buyback, this represents a payment of nearly HKD4 billion to the HKSAR Government.
Cathay's CEO Ronald Lam said: 'Completing the buyback of the preference shares and the warrants marks the close of a significant chapter in Cathay's history. Now, we are firmly focused on the future in pursuing our vision of becoming one of the world's greatest service brands.
'Cathay is spreading its wings as we embark on a bold new strategy, underscored by our recently announced commitment of more than HKD100 billion in investments over the next seven years.'Cathay is spreading its wings as we embark on a bold new strategy, These substantial investments will further elevate the experience we provide to our customers and strengthen Hong Kong's international aviation hub status with the opening of the Three-Runway System.'
Cathay is expanding and modernizing its fleet with more than 100 new generation narrowbody, regional widebody, long-haul widebody and large freighter aircraft in its delivery pipeline, with the right to acquire over 80 additional aircraft.
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The airline said the total consideration paid for the warrants buyback was about HKD$1.53 billion (US$196.2 million).
At end of July, Cathay redeemed the remaining 50 per cent of the preference shares that were also issued as part of its recapitalization.
A total of HKD2.44 billion was paid in preference share dividends. Together with the warrants buyback, this represents a payment of nearly HKD4 billion to the HKSAR Government.
Cathay's CEO Ronald Lam said: 'Completing the buyback of the preference shares and the warrants marks the close of a significant chapter in Cathay's history. Now, we are firmly focused on the future in pursuing our vision of becoming one of the world's greatest service brands.
'Cathay is spreading its wings as we embark on a bold new strategy, underscored by our recently announced commitment of more than HKD100 billion in investments over the next seven years.'Cathay is spreading its wings as we embark on a bold new strategy, These substantial investments will further elevate the experience we provide to our customers and strengthen Hong Kong's international aviation hub status with the opening of the Three-Runway System.'
Cathay is expanding and modernizing its fleet with more than 100 new generation narrowbody, regional widebody, long-haul widebody and large freighter aircraft in its delivery pipeline, with the right to acquire over 80 additional aircraft.
SeaNews Turkey
