Troubled Hong Kong Airlines gets lifeline again from authorities

The govt has thrown Hong Kong Airlines another lifeline with more time to come up with a coherent restructuring plan, as the indebted carrier pledged to keep flights running during the busy Easter period amid mounting concerns over its finances. The airline made the reassurance, despite repeatedly failing to pay banks, aircraft-leasing companies and suppliers on time, while authorities questioned its turnaround plan drawn for the fourth time since December. With reported losses last year of HK$3b (US$382m) and company bosses appealing to shareholders to inject HK$2b just to keep its flying permit and the business afloat, the fate of the airline has been laid bare. The authority said Monday that the carrier, backed by Chinese conglomerate HNA Group, needed to produce a “concrete plan” to improve its books. <br/>