A signage for Cathay Pacific Airways at the departures hall of Hong Kong International Airport in Hong Kong, on March 8, 2023. (PHOTO / AP)

Cathay Pacific Airways Ltd said on Tuesday it would pay the deferred dividend of HK$1,524.1 million ($194.35 million) on the preference shares held by the Hong Kong Special Administrative Region government on June 30.

The airline also intends to pay all future preference shares dividends as they fall due, it said.

Cathay Pacific also said it would not need to utilize the HK$7.8 billion bridge loan facility extended to it by the HKSAR government, which is set to expire on Thursday

This comes as the global air travel industry recovers from the border closures and other disruptions caused by the pandemic.

ALSO READ: Cathay Pacific scandal widely condemned

Cathay Pacific also said it would not need to utilize the HK$7.8 billion bridge loan facility extended to it by the HKSAR government, which is set to expire on Thursday.

"As travel restrictions get lifted and travel demand returns, our group, further to being overall operating cash generative in 2022, has continued to be operating cash generative so far in 2023," said Chief Executive Officer Ronald Lam.

The HKSAR government had made investments in Cathay Group to support the flagship carrier and the Hong Kong international aviation hub through the COVID-19 crisis.

READ MORE: Cathay Pacific sees 42-fold increase in passengers in March

Hong Kong's flagship carrier is currently targeting to operate around 70 percent of pre-pandemic passenger flight capacity by the end of 2023, with the aim of returning to pre-pandemic levels by the end of 2024.