HONG KONG: Hong Kong Airlines, controlled by cash-strapped Chinese conglomerate HNA Group, must shore up its financial position by Dec 7 or risk the suspension or loss of its licence, the Hong Kong government said on Monday .
The airline is not publicly listed and does not disclose financial data, but in April, it told shareholders that it needed at least HK$2 billion in fresh funds or it would lose its operating license.The carrier told them at the time it had lost HK$3 billion in 2018 and an infusion was crucial, according to people present.
Hong Kong Airlines was struggling financially even before months of anti-government protests led to a plunge in visitors to the Asian financial capital.
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