Nepal extends ban on international flights
13.05.2021 – 17:32 UTC
Nepal extended its ban on most international flights until midnight on May 31, 2021, to prevent the spread of new variants of COVID-19 in the country, according to an urgent notice issued by the Civil Aviation Authority from Nepal (CAAN).
Only two flights per week are currently authorized between the Nepalese capital Kathmandu and Delhi Int’l, in India, by each of the companies Nepal Airlines (RA, Kathmandu) and Air India (AI, Mumbai Int’l) operated without quarantine. air transport bubble agreement between the two countries, the regulator said. He advised airlines not to open passenger bookings to / from Nepal until further notice.
This follows the suspension of all scheduled international flights to / from Nepal from May 6-14, except the air bubble flights mentioned above by the two domestic carriers.
According to the same decision, all scheduled domestic passenger flights remain suspended until midnight on May 14. Relevant domestic airlines include Buddha Air, Shree Airlines, Yeti Airlines, Simrik Airlines and Summit Air (Nepal), ch-aviation data reveals.
Cathay Pacific Raises $ 650 Million in U.S. Dollar Bond Issue
13.05.2021 – 04:02 UTC
As it pointed out in a preliminary roadmap last week, Cathay Pacific (CX, Hong Kong Int’l) sold its first US dollar-denominated bond since 1996, raising $ 650 million.
The senior unsecured notes, due 2026, were issued at a yield of 4.875%, lower than the original price forecast of 5.2%, suggesting significant demand, according to a term sheet released at the end of the year. May 10 and seen by local media.
Sources told the South China Morning Post that the airline could increase the size of the offering to $ 650 million from $ 500 million after investors placed more than $ 1.3 billion in orders. The operation attracted pledges from 154 potential investors.
The cash-strapped carrier, which hit a record net loss of HK $ 21.65 billion ($ 2.79 billion) in 2020, will use the proceeds to bolster its working capital and for general corporate purposes. the company.
Cathay Pacific has in the past issued almost all of its debt in Hong Kong dollars and, as previously reported, has issued HKD 6.74 billion ($ 868 …
Cathay Pacific is considering a US dollar bond issue again
07.05.2021 – 06:08 UTC
According to sources and a summary of terms cited by Reuters, Cathay Pacific (CX, Hong Kong Int’l) is considering its first issue of US dollar-denominated bonds since 1996. The amount has not been finalized and will depend on demand. .
The airline, which continues to burn nearly 2 billion HKD ($ 257 million) per month, according to the South China Morning Post, began speaking to investors this week to determine whether it would issue Reg S bonds in U.S. dollars, this which would mean she can’t. be offered, sold or delivered in the United States.
“We continue to explore equity financing opportunities if appropriate market conditions arise,” Cathay Pacific said in a statement.
The airline had previously considered such a debt deal in 2019, but suspended the plan in October 2019 because potential investors demanded too high a return due to anti-government protests raging in Hong Kong at the time.
The carrier has in the past issued almost all of its debt in Hong Kong dollars and, as before …
Cathay Pacific to close Canada’s pilot base and think more
04/26/2021 – 08:21 AM UTC
As part of a review of its overseas flight crew operations, Cathay Pacific (CX, Hong Kong Int’l) has decided to close its pilot base in Canada and may do the same in Australia and New Zealand, the South China Morning Post reported citing an internal memo dated April 22. In addition, later this year it will re-evaluate its pilot bases in Europe and the United States.
Instead, the airline will start transferring some foreign pilots to Hong Kong on a voluntary basis, the memo says. This can be difficult, however, as ex-pat flight crews currently only receive short-term visas, and there are already many unemployed pilots in the territory, especially following the branch shutdown. full-service regional Cathay, Cathay Dragon (KA, Hong Kong Int’l) at the end of last year.
Cathay Pacific, which last month reported a 2020 loss of HK $ 21.65 billion ($ 2.79 billion) in 2020, said it gave pilots on leave in Europe and the States -United half of their wages and those of Canada two. third. He stopped paying his …