Jefferies says Cathay Pacific restructuring removes key overhang for airline

Singapore

CATHAY Pacific Airways' restructuring removes a key overhang for the airline, but earnings recovery will depend on the opening of the Singapore-Hong Kong air travel bubble (ATB), Jefferies' research team said.

Jefferies equity analyst Andrew Lee said Cathay Pacific's HK$2.2 billion (S$384.8 million) restructuring plans announced on Wednesday were broadly in line with expectations.