Cathay Group Hong Kong

The Cathay Group has completed its repayment of the Hong Kong SAR Government's HK$19.5 billion investment, having bought back the remaining 50 percent of preference shares worth HK$9.75 billion. This milestone follows the initial buyback of half the shares in December 2023 and the payment of a total of HK$2.44 billion in preference share dividends. Cathay Group CEO Ronald Lam emphasized the company's gratitude for governmental support during its 2020 recapitalisation amid the pandemic and expressed optimism about future growth and contributions to Hong Kong's aviation hub development. The recapitalisation package in 2020 totaled HK$39 billion, which also included rights issues and an unused bridge loan facility. Lam stated that Cathay's rebound has progressed well, allowing for these repayments just 18 months after Hong Kong's reopening. Looking ahead, the airline plans to continue making substantial investments to ensure long-term growth and positive impact.