Home > > Hong Kong to hand airlines HK$268 million as COVID-19 batters travel

Hong Kong to hand airlines HK$268 million as COVID-19 batters travel

04/11/2020| 5:35:16 AM|

The city’s aviation regulator clarified details of the plan, which will provide carriers with up to HKD 1 million per aircraft as part of a HKD 137.5 billion citywide pandemic relief package.

Hong Kong’s cash-strapped Cathay Pacific Group is in line to receive HKD 236 million (USD 30.4 million) from a one-off government subsidy as the coronavirus pandemic ravages the travel industry worldwide.

Hometown rival Hong Kong Airlines (HKA) can expect HKD 32 million (USD 4.1 million) under the unique payout, as officials decide that the short-haul Airbus A320 single-aisle jet counts as a large plane.

The city’s aviation regulator on Thursday clarified details of the plan, which will provide carriers with up to HKD 1 million per aircraft as part of an HKD 137.5 billion citywide pandemic relief package announced on Wednesday.

In a related move, the Airport Authority said it would buy 500,000 air tickets to directly inject cash into the ailing local carriers as part of an HKD 2 billion scheme for the aviation industry, which also stood to benefit from the government’s HKD 80 billion six-month wage support scheme.

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TAGS: Cathay Pacific | Hong Kong | coronavirus
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