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Travel Hong Kong Airlines Allowed to Keep License

09:40  09 december  2019
09:40  09 december  2019 Source:   travelpulse.com

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Hong Kong Airlines has been allowed by the Hong Kong government to keep its air license . This comes after a cash injection earlier this week. Hong Kong Airlines will be able to keep its Air Operator’s Certificate, or AOC, for now. However, the agency did not announce that Hong Kong

Hong Kong Airlines is owned by struggling Chinese conglomerate HNA Group, which has been looking to lower its debt burden. Last month the carrier announced it would delay salary payments to some staff as it struggled to find cash, triggering a warning from regulators that their license might be

A literal last-minute infusion of capital has saved Hong Kong Airlines, allowing the carrier to keep its license to continue operating.

a large passenger jet flying through a blue sky: Hong Kong Airlines Airbus A330-300© Kristian1108/iStock Editorial/Getty Images Plus Hong Kong Airlines Airbus A330-300

The Air Transport Licensing Authority of Hong Kong (ATLA) said it was satisfied the carrier had met two new license conditions, which forced it to find significant new funding.

“ATLA has decided not to take further action against HKA for the time being, pending the airline’s submission of further details regarding condition one,” the authority said in a statement on Saturday.

That’s a far different scenario than what played out a week ago.

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Hong Kong Airlines is owned by struggling Chinese conglomerate HNA Group, which has been looking to lower its debt burden. Last month the carrier announced it would delay salary payments to some staff as it struggled to find cash, triggering a warning from regulators that their license might be

Hong Kong Airlines is owned by struggling Chinese conglomerate HNA Group, which has been looking to lower its debt burden. Last month the carrier announced it would delay salary payments to some staff as it struggled to find cash, triggering a warning from regulators that their license might be

Last week, the ATLA gave Hong Kong Airlines until Saturday, Dec. 7, to produce new investors or more cash. If not, its license to fly would be suspended or revoked.

HKA has been financially plagued for months, leading the carrier to turn off inflight entertainment and end long-haul flights. It also did not have enough cash on hand to pay 55% of its employees for November.

The airline was facing a scenario where it could have been banned from flying, force more than 3,500 employees to find new work, and strand tens of thousands of travelers across the globe.

While it is still concerned about Hong Kong Airlines’ overall financial position, ATLA was satisfied with the temporary fix that will allow HKA to stay in the air.

“We will continue to serve all our passengers over the upcoming holiday season and beyond,” an airline spokeswoman said. “Moving forward, we will continue to drive consolidation and strengthen our internal structure to operate more efficiently and improve our revenue.”

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Hong Kong Airlines is owned by struggling Chinese conglomerate HNA Group, which has been looking to lower its debt burden. Last month the carrier announced it would delay salary payments to some staff as it struggled to find cash, triggering a warning from regulators that their license might be

HONG KONG – Low-cost carrier Hong Kong Airlines was allowed to continue flying after the city's authorities decided Saturday, December 7, not to punish it for delaying salary payments and ongoing financial problems. The international finance hub has seen 6 months of protests which has dealt a

Neither ATLA nor HKA had commented on the source of the cash or how much was raised.

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