HONG KONG: Hong Kong Airlines shareholders have demanded to see 2018 accounts before considering providing at least HK$2 billion (US$255 million) ...
HONG KONG: Hong Kong Airlines shareholders have demanded to see 2018 accounts before considering providing at least HK$2 billion needed to ensure the carrier: part owned by the indebted HNA Group: keeps its licence, two sources said.
Just weeks earlier, Hong Kong's Air Transport Licensing Authority demanded the airline detail plans to improve finances. ATLA declined to comment further on Friday. At last week's meeting, Hong Kong Airlines executives told shareholders that without fresh funds, the airline's operating license was at risk, said the people familiar with the matter.
Meeting attendees demanded to see the airline's accounts for 2018 including details of interactions with other HNA firms before considering whether they would participate in the share placements, the people said.
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