A passenger walks to the First Class counter of Cathay Pacific Airways at Hong Kong Airport in Hong Kong, China. File photo/Reuters
Hong Kong’s Cathay Pacific Airways Ltd on Friday lowered its expectations for full-year profit as a result of “incredibly challenging” conditions in its home market that were expected to persist for the rest of 2019.
The airline reported a 7.1% drop in passenger numbers for the month of September as travellers avoided Hong Kong due to widespread anti-government protests and said its second-half financial results were expected to be below the first half.
Cathay in August reported a HK$1.347 billion ($171.75 million) first-half profit. At that time, it said second-half profits were expected to be higher than the first-half, as is typically the case for the airline, based on seasonality.
Hong Kong flag carrier Cathay Pacific announced on Wednesday that it will buy budget airline HK Express for US$628.15 million, as it moves to counter competition from the increasing number of low-cost carriers in the region.
The Hong Kong Federation of Trade Unions on Friday called on Cathay Pacific (0293.HK) to put an end to what it described as “white terror,” following the dismissal of Rebecca Sy, the head of
Researchers in Canada have identified a new kind of vaping-related lung injury they believe is linked to flavorings in conventional vape pens, causing symptoms similar
Fewer than 100 protesters remained holed up in a Hong Kong university on Thursday as riot police encircled the campus, with some activists still desperately searching for ways to escape while others hid.
Australia’s Prime Minister on Thursday denied his climate policies had caused unprecedented bushfires ravaging the country and insisted his government was doing enough