by Amruth Sundarkumar | Aug 11, 2022 | Corporates, Hong Kong
Hong Kong-based Cathay Pacific reported a loss of HKD 5bn ($637mn) in 1H vs. a loss of HKD 7.6bn ($963mn) the previous year. Revenues rose 18% YoY to HKD 18.6bn ($2.4bn) driven by higher ticket sales and strong demand for air cargo. The airline indicated that Hong...
by Amruth Sundarkumar | Mar 23, 2022 | High Yield Bonds, Hong Kong
Dollar Bonds of Cathay Pacific rallied over 4 points on news that Hong Kong plans to ease its travel curbs. This included lifting of its flight ban on 9 countries and relaxing mandatory quarantine to 7 days from 14. In early March, Cathay had said that capacity of its...
by Amruth Sundarkumar | Aug 12, 2021 | High Yield Bonds
Cathay Pacific reported its 2021 interim results with revenues for 1H2021 dropping 43% to HKD 15.85bn ($2.04bn) in the previous year due to challenges posed by the pandemic. The company however managed to narrow its net loss by 23% YoY to HKD 7.57bn (970mn). Net...
by Amruth Sundarkumar | Jun 9, 2021 | High Yield Bonds, Hong Kong
Hong Kong’s embattled flag carrier Cathay Pacific welcomed the extension of the HKD 7.8bn ($1bn) bridge loan from the Hong Kong SAR Government on June 8, 2021. The airline, which is dealing with reduced business due to the ongoing pandemic, said that the...
by bondevalue | May 11, 2021 | High Yield Bonds, Hong Kong
Hong Kong flag carrier Cathay Pacific raised $650mn via a 5.25Y bond at a yield of 4.875%, 32.5bp inside initial guidance of 5.2% area. The bonds were unrated and received orders over $1.5bn, 2.3x issue size. Proceeds will be used for bolstering its working capital...
