Hong Kong's Air Transport Licensing Authority (ATLA) has agreed to extend the deadline for Hong Kong Airlines (HX, Hong Kong International) to present a new business plan and demanded clarification from the carrier, the South China Morning Post has reported.
The ATLA said that the current business plan, already the fourth since December 2018, did not provide sufficient details. In mid-March, the authority ordered the struggling carrier to submit "a concrete plan with a view to improving its financial situation". The plans submitted so far were deemed insufficient by the ATLA.
The airline reportedly posted a HKD3 billion dollar (USD383 million) loss in 2018 but vowed to continue flying at least through the current busy Easter period. Hong Kong Airlines needs around HKD2 billion dollars (USD255 million) to stay afloat in the short-term.
