South China Morning Post with the report, citing sources

  • HK$30 billion in loans and direct stake

Trading in Cathay Pacific was halted on the Hong Kong stock exchange earlier.

HK$40 billion capital restructuring

  • Hong Kong government takes the lead in a bailout package worth nearly HK$30 billion in loans and an undisclosed stake
  • carrier will issue new shares
  • authorities taking up two "observer" boardroom seats . so it thus has a direct say in how the airline is run
South China Morning Post with the report, citing sources