The Hong Kong government has stepped in to provide beleaguered Cathay Pacific with a financial lifeline, as part of the airline’s group $5 billion recapitalization plan. Cathay Pacific has been hard hit be a collapse in demand due to the coronavirus outbreak. This has financial bailout has yet to be approved by the shareholders. Cathay’s announcement comes two weeks before it was due to hold its Annual General Meeting, which has been postponed due to social distancing laws in place in Hong Kong.