Adds particulars of route cuts
Adds particulars of route cuts
Dec 2 (Reuters) – Hong Kong Airways, managed by cash-strapped Chinese language conglomerate HNA Group HNAIRC.UL, should shore up its monetary place by Dec. 7 or threat the suspension or lack of its licence, the Hong Kong authorities mentioned on Monday.
Hong Kong’s Transport and Housing Board (THB) mentioned it met with town’s second-largest airline on Nov. 27 and expressed “grave dissatisfaction and deep concern” that the service’s monetary place had not improved.
THB on Monday connected new situations to the airline’s licence, requiring it to lift cash and preserve sure money ranges. The Air Transport Licensing Authority mentioned a choice on whether or not to droop or revoke its licence could be introduced by Dec. 7.
Hong Kong Airways didn’t reply instantly to a request for remark.
Airport Authority Hong Kong mentioned it was “very involved in regards to the monetary scenario” of the airline and the potential…