Cathay Pacific Struggles With Aftermath of Covid, and China Crackdown

Logo The New York TimesThe New York Times
2023-05-29 09:01:14  • 7 mins

Pandemic lockdowns, on the heels of the turmoil of pro-democracy protests, hurt an airline that relied on Hong Kong as a vibrant gateway to Asia.

Few major airlines in the world were hit by the Covid pandemic as hard as Cathay Pacific, the flagship carrier of Hong Kong, or have labored so mightily to recover from it. Its business was decimated by some of the industrys most expansive flight bans and quarantine requirements. And the pandemic wasnt the start of Cathays troubles.

In 2019, when Hong Kong was convulsed by pro-democracy protests, Cathay Pacific was caught in the crossfire with Beijing. Flights were canceled or delayed by airport sit-ins involving thousands of demonstrators, among them employees of the airline, Cathay Pacific. Chinese officials threatened to bar crew members who joined the protests, or even voiced support for them, from flying into China.

Turmoil grew inside Cathay Pacific. The airlines chief executive and chairman both resigned, and new leaders began cracking down on anything employees said or posted on social media that could anger China.

Continue read on nytimes.com

What happened Storm clouds are building over the airline industry, and Southwest Airlines (NYSE: LUV) is having a difficult time navigating through the...
Logo NasdaqNasdaq
2023-10-03 16:57:26  • 1 min
MANILA -Cebu Pacific, the budget airline of the billionaire Gokongwei family, is banking on sustained growth in the postpandemic era due to rising demand for...
Logo Inquirer.netInquirer.net
2023-10-02 23:45:27  • 1 min
(RTTNews) - Ryanair Holdings plc (RYA.L, RYAAY), on Tuesday, reported an increase of 9 percent in passenger traffic for the month of September, 2023,...
Logo NasdaqNasdaq
2023-10-03 06:48:16  • 1 min
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide 2022 Best News Website or Mobile Service Digital Media Awards Worldwide 2022 Hong...
Logo Channel NewsAsiaChannel NewsAsia
2023-09-29 10:20:47  • 1 min
Wall Street wasn't impressed by the fiscal third-quarter results that Carnival Corp. (NYSE: CCL) posted on Friday morning. Shares of the world's largest...
Logo NasdaqNasdaq
2023-10-03 14:30:00  • 1 min
By now, the saga of the cruise industry is a familiar one. Cruise ships were stuck in port for much of the pandemic, leading to companies like Carnival...
Logo NasdaqNasdaq
2023-10-03 10:59:00  • 1 min
MANILA -The revenge travel trend is not letting up as budget carrier AirAsia Philippines is targeting to sell 500,000 seats for Asia-Pacific routes in the...
The citys stock market gets jittery amid concerns about higher interest rates and a surge in US Treasury yields. The rally in troubled Chinese developer...
Logo South China Morning PostSouth China Morning Post
2023-10-04 02:44:23  • 1 min
Key Points United is exercising purchase options on 50 additional Boeing 787-9 Dreamliners and 60 Airbus A321neos. The airline already ordered 120...
Logo CNBCCNBC
2023-10-03 20:00:01  • 1 min
What happened Shares of Carvana (NYSE: CVNA) were having another roller-coaster month in September. The online used car dealer's stock briefly popped after...
Logo NasdaqNasdaq
2023-10-03 22:12:41  • 1 min
By Anbarasan Ethirajan BBC News The bright orange hotel sticks out as far as the eye can see - but unfortunately for its owner Bishnu Sharma, there is hardly...
Logo BBCBBC
2023-10-03 21:07:22  • 1 min
Newcomers like Shein and Temu are tapping Chinas vast manufacturing capabilities and using their technology to connect producers directly with overseas...
The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day slide in...
Logo RTTNewsRTTNews
2023-10-04 01:00:02  • 2 mins
WASHINGTON For much of the world, Chinas Xinjiang region is notorious, a place where ethnic Uyghurs face forced labor and arbitrary detention. But a group of...
Logo WJXTWJXT
2023-10-04 04:09:13  • 1 min
Palash Pandey posted on X his cat Tux has been taken by a Lyft driver, CEO David Risher has apologized.
Logo FortuneFortune
2023-10-03 15:19:53  • 1 min
( Kitco News ) - China’s decision to ban cryptocurrency trading in 2019 and cryptocurrency mining in 2021 had a material impact on crypto-related activity in...
Logo Kitco NEWSKitco NEWS
2023-10-03 21:01:17  • 1 min
United Airlines is making its second massive order of new planes in less than a year, more than 100 in all, as the carrier renews its fleet. The most recent...
Logo U.S. News & World ReportU.S. News & World Report
2023-10-03 20:00:46  • 1 min
(RTTNews) - The Boeing Co. (BA) announced Tuesday that cargo carrier Silk Way West Airlines has taken delivery of the first Boeing 777 Freighter at Heydar...
Logo NasdaqNasdaq
2023-10-03 12:18:56  • 1 min
Shares of Carnival Cruise Lines (NYSE: CCL) sold off hard following its recent third-quarter earnings report last week. Yet for some perspective, Carnival's...
Logo NasdaqNasdaq
2023-10-03 09:30:00  • 1 min
What happened Shares of McCormick & Company (NYSE: MKC) -- maker of spices, seasonings, and condiments -- dropped on Tuesday after it announced financial...
Logo NasdaqNasdaq
2023-10-03 20:58:00  • 1 min