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HK Air’s $6.3 Billion Debt Restructuring Approved by Creditors

  • At least 80% of different classes of creditors back the plan
  • Hong Kong air traffic plunged more than most in wake of Covid
Hong Kong Airlines aircraft at Hong Kong International Airport.

Hong Kong Airlines aircraft at Hong Kong International Airport.

Photographer: Bertha Wang/Bloomberg
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Most creditors of Hong Kong Airlines Ltd. voted to support the carrier’s proposed HK$49 billion ($6.3 billion) debt restructuring, a step to stave off insolvency after travel to and from the city dried up the past three years.

Of those voting among three classes of creditors, holders of at least 80% of the debt in each class backed the plan, according to documents sent to creditors Monday that were seen by Bloomberg News. Court hearings to sign off on the results are set for Dec. 9 in England and Dec. 14 in Hong Kong, the carrier said in a statement.