Business Services Industry
Shareholder Swire won't finance troubled airlines.
Australasian Business Intelligence, May, 2003
May 20, 2003 (The Asian Wall Street Journal - ABIX via COMTEX)
Swire Pacific, which has stakes in Cathay Pacific Airways and Hong Kong Dragon Airlines, has refused to inject funds into the businesses. Both Cathay Pacific and Hong Kong Dragon have been seriously affected by the outbreak of severe acute respiratory syndrome (SARS). Cathay reduced the number of its flights by 45 per cent and Dragonair by more than 60 per cent. James Hughes-Hallett, the chairman of Swire, said that the airlines can use other avenues to raise funds.
Publication Date: 16 May 2003
SWIRE GROUP:
CATHAY PACIFIC AIRWAYS LIMITED:
HONG KONG DRAGON AIRLINES LIMITED
By Nisha Gopalan
All copyright subsisting under the Copyright Act 1968...
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