Another blow for Hong Kong, as cross-border trucking comes under pressure again
Hong Kong faces another reduction in cross-border trucking with mainland China, while port operator Hutchison ...
The Hong Kong government is set to inject HK$30bn (US$3.87bn) into Cathay Pacific as part of wider HK$39bn recapitalisation plan the airline is undertaking to enable it to continue operating through the coronavirus pandemic. According to this report from the South China Morning Post, the funds will give Hong Kong’s government a 6.08% stake in the company – and although existing shareholders Swire Pacific, Air China and Qatar Airlines will contribute the remaining HK$9bn, their shareholdings will be reduced, giving the government a greater say in Cathay’s management. “In exchange for equity, the government will be taking up two “observer” boardroom seats in an unprecedented shake-up that will empower it to have a direct say in how the airline is run, sources have told the Post.”
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M&A radar: MSC (vs Mærsk) – a bit Amazon, a bit UPS. With an eye on Schenker...
Outlook for airfreight darkens, but 'the sky's not likely to fall in'
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