SEOUL, Sept 13 Reuters Airline Cathay Pacific has bought back all warrants issued to the Hong Kong government in 2020, another step in repaying the government for a pandemicrelated recapitalisation package, the company said on Friday.

Cathay said the buyback was for HK1.53 billion 196.2 million.

At the end of July, the carrier carried out a buyback of the last part of HK19.5 billion in preference shares issued to the Hong Kong government as part of the HK39 billion rescue package in June 2020.

It also paid a total of HK2.44 billion in preference share dividends.

Completing the buyback of the preference shares and the warrants marks the close of a significant chapter in Cathays history. Now, we are firmly focused on the future, CEO Ronald Lam said.

Cathay made heavy losses and layoffs during the COVID19 pandemic and reported its first annual profit in four years in March, and paid its first dividend since 2019.

It reported a 15 drop in interim profit in August, mainly due to lower air fares, and announced a HK100 billion 12.8 billion investment over seven years in the airline.

1 7.7973 Hong Kong dollars

Writing by Lisa Barrington; Editing by Jacqueline Wong and Stephen Coates

Source Reuters