Hong Kong Airlines avoids losing license over cash crunch

A Hong Kong air transport regulator said on Saturday it decided against suspending the license of Hong Kong Airlines, the city’s second largest carrier, after it scrambled for funding. The airline, part-owned by cash-strapped Chinese conglomerate HNA Group, said on Wednesday it had a cash injection plan enabling it to pay outstanding salaries to staff the next day. Air Transport Licensing Authority said Saturday the cash injection plans were satisfactory, adding that it would continue to closely monitor the firm’s operations. The regulator had warned the carrier it needed to shore up its financial position by Dec. 7 or risk suspension or loss of its license. “ATLA has given careful consideration to factors including public interests and the policy direction of maintaining Hong Kong as an international aviation hub,” an ATLA spokesperson said. “Hong Kong Airlines is here to stay,” the company said in a statement after the ATLA decision.<br/>