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Macau’s flagship carrier seeks cash injection

Air Macau has been severely impacted by the pandemic.
Air Macau has been severely impacted by the pandemic.

Air Macau, the SAR’s flagship carrier, is looking to increase capital after huge losses during the pandemic.

Macau.- Air Macau, the SAR’s flagship airline, is aiming to increase capital in the light of a slight recovery in visitation.

According to the newspaper Journal Tribuna de Macau, Air Macau held a general assembly to debate a cash injection.

The company reported losses of MOP500m the first half of the year after most flights were cancelled due to the pandemic.

JTM reports that despite being Air Macau’s main shareholder, Air China is unlikely to put up the cash needed as it hasn’t informed the stock exchange of an operation. The cash is therefore likely to come from the Macau government, which owns 21.5 per cent of the airline.

It would be Air Macau’s third financial restructuring since 2009.

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business macau tourism