Cathay Pacific Airways is weighing fundraising options as the company weathers an unprecedented slump in the aviation industry because of the new coronavirus and asociated travel restrictions, according to people familiar with the matter. Bloomberg reports that one of the options under consideration is a rights offering that could raise billions of dollars for Hong Kong’s flag carrier, said the people. Swire Pacific and Air China, the airline’s biggest shareholders, would participate in the rights issue, the people said. Cathay Pacific is working with banks on a deal, which could be announced today, they said. Representatives for Air China, Cathay Pacific and Swire Pacific declined to comment.

Source: The Standard June 09, 2020 04:32 UTC