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Cathay Pacific bailout shows Asian airline recovery has a way to go

Domestic flights are coming back but international carriers need urgent help

| Hong Kong
Cathay has concentrated on the rare bright spot of cargo activities.   © Sipa/AP

David Yu is a finance professor at New York University Shanghai who specializes in cross-border financing and aviation finance and leasing. His new book, "Aircraft Valuation and Leasing," is out in October.

When Hong Kong-based airline Cathay Pacific Airways suspended its shares from trading last week ahead of an announcement, investors and the broader airline industry wondered whether there was good news to come -- or, following the post-coronavirus aviation collapse, bad.

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