The top shareholder and manager of Cathay Pacific Airways condemned protests in ...
SINGAPORE/HONG KONG - The top shareholder and manager of Cathay Pacific Airways condemned protests in Hong Kong and vowed to follow China’s aviation regulations, after the airline suspended a second pilot on Tuesday as deepening unrest hit its operation and stock.
Shares in the Hong Kong flag carrier sunk to a 10-year low, hit by concerns that Beijing could slap further sanctions on the airline, causing more damage to its brand. The protests began in opposition to a bill allowing extraditions to the mainland for trial in Communist-controlled courts, but have widened to highlight other grievances.
While Swire Pacific declined to say what was discussed, its statement on Tuesday underscores the political pressure both it and Cathay are facing.Cathay, which was forced to cancel hundreds of flights after Hong Kong’s airport authority took an unprecedented step of closing the airport on Monday, has warned of further flight disruptions at short notice.
Analysts and employees said there were fears that Beijing could take further action that could hit the airline, such as time-consuming plane checks at airports or even the closure of Chinese airspace and airports to Cathay flights. “I think there is an underlying concern now about what this does to Cathay,” one of the airline’s pilots said of the regulatory scrutiny.
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