Hong Kong Airlines Ltd. said it had worked out a rescue plan to let it keep flying, after a near-collapse that partly reflects how the city’s travel industry has been hurt by months of protests.
- No further action to be taken by licensing authority against carrier’s woeful finances, ‘for the time being’
- City’s third-largest airline retains licence to operate after given five days to secure new funds
With more than 3,500 jobs on the line and hundreds of thousands of bookings at risk ahead of Christmas, staff and customers could breathe a sigh of relief at Saturday’s announcement of the reprieve.
The Air Transport Licensing Authority (ATLA) said it was satisfied the carrier had met two new licence conditions, which forced it to find significant new funding. However, the authority said it remained concerned about the carrier’s weak financial situation.