Cathay Pacific unveils US$5B bailout plan

Troubled Hong Kong airline Cathay Pacific announced a HK$39 billion ($5 billion) government-led bailout plan on Tuesday as it battles a crippling downturn caused by the coronavirus. This file photo taken on March 13, 2019 shows a Cathay Pacific passenger plane preparing to take off from Hong Kong's international airport. - Cathay Pacific announced a 5 billion USD recapitalisation plan on June 9, 2020 with Hong Kong's government providing loans in exchange for an undisclosed stake in the company as it battles a crippling downturn caused by the coronavirus. Anthony Wallace / AFP Like many carriers hammered by...