Hong Kong’s government is leading a bailout of the city’s flagship carrier Cathay Pacific Airways Ltd., providing it with the bulk of a $5 billion funding package that could also give the government a minority stake in the 73-year-old company. Cathay said Tuesday that it would receive $2.5 billion from a government-owned entity called Aviation 2020 Ltd., which will buy preference shares in the company. The carrier will also be able to draw from a $1 billion bridge-loan facility from the same entity at a low interest rate....

Source: Wall Street Journal June 09, 2020 06:42 UTC