Cathay Pacific aims to raise about HK$2 billion in Hong Kong dollar bond, sources say
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Cathay Pacific plans to raise approximately HK$2 billion ($255.41 million) through a fixed-rate Hong Kong dollar bond, with a potential issuance of three- or five-year bonds. This move comes amid challenging conditions for global airlines due to the Iran war and rising jet fuel prices. The airline will cut about 2% of its passenger flights and 6% from its budget arm HK Express from mid-May to June 30, while suspending services to Dubai and Riyadh. Despite these challenges, Cathay reported strong performance on European routes in March.
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