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Cathay Pacific Redeems 50% of Hong Kong Government’s Preference Shares, Aims to Complete Buyback by

Cathay Pacific Redeems 50% of Hong Kong Government’s Preference Shares, Aims to Complete Buyback by

7 December 2023 Press Release Airline News

Cathay Pacific Group has achieved a significant milestone in its recovery plan by repurchasing 50% of the HK$19.5 billion preference shares issued to the Hong Kong Special Administrative Region (HKSAR) Government in 2020 as part of the company’s recapitalization efforts during the pandemic. The airline plans to repurchase the remaining 50% by July 2024, contingent on market conditions and business performance.