June 9, 2020 / 7:40 AM / a month ago

Hong Kong government says does not intend to hold Cathay Pacific stake long-term

HONG KONG (Reuters) - Hong Kong’s government does not intend to hold a stake in Cathay Pacific Airways Ltd (0293.HK) long term after leading a rescue package to help it through the coronavirus pandemic, Finance Secretary Paul Chan said on Tuesday.

Chan said the bailout was intended to maintain the city’s status as a major international aviation hub and the government had no plans to get involved in the company’s operations.

Reporting by Clare Jim; Writing by Marius Zaharia; Editing by Jan Harvey

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