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Report: Cathay Pacific alerts of revenue impact amid Hong Kong protests

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Report: Cathay Pacific alerts of revenue impact amid Hong Kong protests

Cathay Pacific Airways Ltd. warned of a "significant impact" on its earnings in August and beyond amid the ongoing protests in Hong Kong that have affected travel demand and led to the departure of staff.

Ronald Lam, the company's chief customer officer, said in an emailed statement that traffic to the Asian financial hub has "weakened substantially" while traffic growth from the city has slowed, particularly on short-haul routes, according to Bloomberg News.

The company had previously said its forwarding bookings fell by a "double-digit" percentage in July.

The news outlet separately reported that a third pilot has left the company, but it was unclear whether he resigned or was ousted. The pilot remarked on the protest to passengers on one of the flights, Bloomberg said, citing Hong Kong Economic Journal. The company had recently sacked two of its pilots, among others, for similar reasons.

The airline came under pressure after the Civil Aviation Administration of China issued an aviation safety warning to Cathay over its employees partaking in pro-democracy protests. The company appointed Augustus Tang as its CEO Aug. 16, after incumbent Rupert Hogg resigned.

On Aug. 18, Cathay released a statement, saying that it "resolutely support[s]" the Hong Kong government.