Home > > Cathay Pacific and subsidiaries draw HK$680 million from government’s relief fund

Cathay Pacific and subsidiaries draw HK$680 million from government’s relief fund

07/15/2020| 11:48:52 AM|

Among the latest batch of companies, Cathay Pacific Airways took up the biggest share with subsidies of about HK$458.2 million, involving 17,703 employees.

Hong Kong’s embattled flag carrier Cathay Pacific has won some breathing space as the airline and its subsidiaries, which include cargo, frequent flier and laundry businesses, were among the latest recipients of government support, receiving about HK$680 million (US$87.7 million) from the Covid-19 relief package.

The amount could keep afloat the jobs of at least 25,881 of the group’s employees.

The names of the fourth batch of companies granted the government wage subsidies under the Employment Support Scheme, a bailout for businesses to tackle the economic recession triggered by the pandemic, were made public on Tuesday.

Among the latest batch of companies, Cathay Pacific Airways took up the biggest share with subsidies of about HK$458.2 million, involving 17,703 employees. Its subsidiary Hong Kong Dragon Airlines received HK$69 million, centred on 2,581 workers, while another wing, Hong Kong Airport Services, got about HK$70.8 million, with 2,624 workers.

Cathay Pacific Catering Services received about HK$43.9 million for its 1,590 workers. Another HK$17.3 million went to Cathay Pacific Services, involving 646 workers.

With another three subsidiaries benefiting, Cathay pocketed a total of HK$679 million in wage subsidies, involving 25,881 employees.

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TAGS: Cathay Pacific | subsidiary
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