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HKG:0293

9 stories mentioning HKG:0293

Every FINWIRES story that references HKG:0293, newest first.

Asia

Swire Pacific Unit to Raise HK$4.70 Billion via Debt Offering

Swire Pacific (HKG:0019, HKG:0087) said its Swire Pacific Finance unit was looking to raise HK$4.70 billion via a bond offering, according to a Tuesday filing with the Hong Kong bourse.The bonds will convert into Cathay Pacific Airways (HKG:0293) shares based on an initial exchange price of HK$13.18 each. Assuming full conversion, the bonds would convert into 356.6 million Cathay Pacific shares representing 5.9% of the business.The bonds mature on June 16, 2027, and do not bear interest.Swire Pacific said it will use the proceeds for general working capital purposes.Cathay Pacific's shares slumped nearly 7% in recent trade, while Swire Pacific's class A and B shares fell more than 1%.

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Asia

Cathay Pacific Airways' Passenger Count Rises 17% in April

Cathay Pacific Airways (HKG:0293) carried about 2.8 million passengers in April, up 17% from a year earlier, according to a Wednesday Hong Kong bourse filing.Passenger capacity rose about 15% year over year to 12.7 billion available seat kilometers.Cargo carried increased 8.2% to 144.3 million kilograms, while cargo capacity edged up 7.4% to 1.29 billion available freight-ton kilometers.Subsidiary HK Express carried 729,846 passengers in the month, up 4.9% from the year-ago period, while its passenger capacity grew 7% to 1.61 billion available seat kilometers.

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Asia

Cathay Pacific Airways Chair To Retire; Successor Named

Cathay Pacific Airways (HKG:0293) Chair Patrick Healy will retire and step down from the board following the company's annual general meeting on Wednesday, according to a same-day Hong Kong bourse filing.Guy Bradley, currently a non-executive director of the airline, will be elected chair of the board.Bradley has been a director of Cathay Pacific since August 2021 and is chairman of Swire Pacific (HKG:0019, HKG:0087) and Swire Properties (HKG:1972).He joined the Swire group in 1987 and has held roles across Hong Kong, the Chinese mainland, the U.S., Japan, Vietnam, and the Middle East.

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Asia

Cathay Pacific Cuts Fuel Surcharge Amid Easing Middle East Tensions

Cathay Pacific Airways (HKG:0293) will reduce fuel surcharges on most routes from May 16 after reviewing jet fuel prices amid ongoing Middle East-related volatility, according to a Friday update on the airline's website.For Hong Kong-issued tickets on long-haul routes covering destinations such as North America, Europe, Australia, the Middle East, and Africa, the fuel surcharge will be lowered to HK$1,362 per sector from HK$1,560.Fuel surcharges on South Asia routes will decline to HK$633 from HK$725, while levies on other routes will be reduced to HK$339 from HK$389.

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US Markets

Air China Returns to Profitability in Q1 Amid Energy Shocks; Hong Kong Shares Slide 3%

Air China (HKG:0753) returned to profitability in the first quarter, which could indicate resilience in the industry despite global energy shocks.Attributable net profit at China's flag carrier reached 1.71 billion yuan, compared with a loss of 2.04 billion yuan the previous year, according to a Thursday disclosure to the Hong Kong Exchange.Earnings per share stood at 0.10 yuan, versus a loss per share of 0.12 yuan.The rebound in earnings indicates a resilience in China's aviation sector, especially as it recovers from fuel shocks, Bloomberg reported separately on Thursday.The growth is also in line with expectations from Bank of America Securities.Two other major airlines, China Southern Airlines (HKG:1055, SHA:600029) and China Eastern Airlines (HKG:0670, SHA:600115) also recovered from losses in the first quarter compared with the year-ago period.Air China's turnaround could also mean alignment with other big Asian carriers such as Singapore Airlines (SGX:C6L) and Cathay Pacific (HKG:0293), the report said.However, Air China and its government-controlled peers could be "adversely positioned" due to a more price-sensitive travel cohort in China, as well as high fuel costs which they struggle to pass on to passengers, Reuters quoted HSBC (HKG:0005) as saying.The airline's revenue rose 11% year over year to 44.5 billion yuan from 40.0 billion yuan.Passenger capacity jumped 7.6% to 95.2 available seat kilometers during the quarter. The rise could be attributable to demand during the Lunar New Year, Reuters reported separately.Passenger throughput grew 10% to 42.1 million during the quarter, with domestic passenger count growing 10% to 35.8 million, international passenger count rising 12% to 4.9 million, and regional passenger count increasing 18% to 1.3 million.Cargo and mail throughput during the quarter grew 4.3% to 362,995.4 tonnes, while cargo capacity jumped 3.6% to 3.48 billion available freight tonne kilometers.Chinese international airline capacity could rise 13% year over year during the summer, equivalent to 91% of 2019 levels, Reuters said, citing Bank of America.Shares fell 3% in Hong Kong during Thursday afternoon trading.

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Asia

Market Chatter: Cathay Pacific Raises HK$2.1 Billion in Three-Year Bonds

Cathay Pacific Airways (HKG:0293) raised HK$2.08 billion through a three-year bond sale, Reuters reported Wednesday, citing a term sheet seen by the news agency.The notes carry a yield of 3.78%, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Cathay Pacific Airways Planning HK$2 Billion Bond Raise

Cathay Pacific Airways (HKG:0293) is planning to raise HK$2 billion via a Hong Kong dollar bond offering, Reuters reported Tuesday.The airline plans to begin the bond deal on Wednesday which could include a three or five-year fixed rate, or possibly both, Reuters reported, citing the offering's term sheet.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Cathay Pacific Airways' Passenger Count Climbs 24% in March

Cathay Pacific Airways (HKG:0293) carried about 2.8 million passengers in March, up 24% from a year earlier, according to a Friday Hong Kong bourse filing.Passenger capacity rose about 9.3% year over year to 12.4 billion available seat kilometers.Cargo carried increased 11% to 165.1 million kilograms, while cargo capacity edged up 1.8% to 1.34 billion available freight-ton kilometers.Subsidiary HK Express carried 750,668 passengers in the month, up 22% from the year-ago period, while its passenger capacity grew 12% to 1.64 billion available seat kilometers.

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Asia

Cathay Pacific Proposes HK$7 Billion Capital Reduction to Restore Reserves

Cathay Pacific Airways (HKG:0293) proposed a capital reduction of about HK$6.97 billion to offset a decline in distributable reserves following a recent share buyback, according to a Wednesday Hong Kong bourse filing.Shares of the airline were down nearly 1% in Thursday morning trade.The reduction will lower the company's share capital by the same amount, with the credit transferred to a capital reduction reserve account that will be treated as realized profit.

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