Exclusive | Hong Kong Airlines, kept alive with funds from Chinese lenders, calls for government support in survival fight
- Hong Kong Airlines has received more than 1 billion yuan of financial support from Chinese banks since January to stay afloat, sources say
- New suitors have emerged for Hong Kong Airlines, with one bidder even conducting due diligence in May
The city’s third-largest carrier said it has been contributing to the passenger and cargo throughput at Hong Kong International Airport since 2006, before the coronavirus pandemic crippled the industry and left most of its aircraft out of service.
“We hope that the government will consider their recent airline bailout plan in conjunction with support for other Hong Kong-based carriers, who also help to maintain Hong Kong’s status as an aviation hub,” it said in an email reply to the South China Morning Post. “We are committed to serving Hong Kong and always open to strong strategic investors to secure our long-term development.”
The Hong Kong government earlier this month agreed to provide 70 per cent of the HK$39 billion recapitalisation plan at Cathay Pacific to protect the city’s position as an aviation hub. Cathay is separately asking its existing shareholders for HK$11.7 billion through a rights issue.