The restructuring follows creditors of the group filing applications calling for the group’s bankruptcy due to its huge debt crisis with total liabilities amounting to USD 107 billion.
Cathay Pacific Airways makes continuous hedging losses as oil prices fell from their 2008 peak.
For companies seeking megatrends of the global travel recovery, the China market may provide some food for thought.
US warns it could restrict Cathay Pacific flights; Airlines fuel optimism that USA can replicate China’s rapid domestic recovery.
Washington previously took action against China and India for not permitting US carriers to operate routes amid the pandemic.
Around 32% of the global passenger jet fleet is still in storage, but for Chinese operators the figure is just over 8%, while for US airlines the figure is below 29%.
The number of domestic flights rose 150.86 percent year on year, although the number of international flights continued to decrease in February.
Domestic passenger traffic for February rose 187% year on year.
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