Cathay Pacific on Friday said it has bought back warrants worth HK$1.53 billion it issued to the government as part of a bailout plan in 2020.

The city's flag carrier said it also paid HK$2.44 billion in preference share dividends.

In a statement, Cathay thanked its shareholders and the government for their support during the pandemic, adding that it would now embark on a HK$100 billion investment programme.

"Cathay is spreading its wings as we embark on a bold new strategy, underscored by our recently announced commitment of more than HK$100 billion in investments over the next seven years," said CEO Ronald Lam.

"These substantial investments will further elevate the experience we provide to our customers and strengthen Hong Kong’s international aviation hub status with the opening of the Three-Runway System."