As previously notified, for the purposes of implementing a restructuring of its debts and liabilities, Hong Kong Airlines Limited (the “Company”) has proposed a scheme of arrangement pursuant to Sections 670, 673 and 674 of the Companies Ordinance (Cap. 622) of Hong Kong (the “Scheme”) and a restructuring plan under Part 26A of the Companies Act 2006 (UK) (the “Plan”). Reference is made to the Explanatory Statement in relation the Scheme and the Plan dated 28 October 2022, the First Supplement to the Explanatory Statement dated 17 November 2022 and the Second Supplement to the Explanatory Statement dated 25 November 2022.

Creditors Meetings resumed on 1 December

On 1 December 2022, two Scheme Meetings and the three Plan Meetings were reconvened after being adjourned on 25 November 2022, for Creditors to consider and, if thought fit, approve the Scheme and the Plan (as applicable).

The Company is pleased to announce that the Scheme and the Plan have been approved by the Scheme Creditors and Plan Creditors present and voting either in person or by proxy at the Scheme Meetings and the Plan Meetings, respectively. Please refer to the Restructuring Website for detailed information: https://projects.morrowsodali.com/honair.  

The Scheme and the Plan will be subject to the subsequent approval and sanction of the Hong Kong Court and the English Court, respectively, and the satisfaction or waiver (if applicable) of the Restructuring Conditions as set out in the Explanatory Statement.

In relation to the Scheme, the sanction hearing for the Scheme by the Hong Kong Court (which date was previously fixed for 9 December 2022 at 3 p.m. Hong Kong time) has been re-listed on Wednesday, 14 December 2022 at 10 a.m. Hong Kong time.

In relation to the Plan, the sanction hearing for the Plan by the English Court is listed on Friday, 9 December 2022.

Creditors may also obtain copies of the Scheme document, the Plan document, the Explanatory Statement, the Supplement to the Explanatory Statement, the Second Supplement to the Explanatory Statement and other relevant information on the Restructuring Website. 

For any questions in relation to the above, please contact:

-          (if an Unsecured Creditor or a Critical Lessor) Mr. Jacky Wan, Mr. Ralph Kou or Ms. Sheryl Wong of PwC at: hk.projectsky@hk.pwc.com (quoting reference: 02076678/F001) or at (+852) 2289 5117; or

-           (if a Perpetual Noteholder) Morrow Sodali at honair@investor.morrowsodali.com or +852 2319 4130 (Hong Kong) / +44 20 4513 6933 (London).