Cathay Falls as It Draws China Wrath Over Hong Kong Protests
- Carrier’s stock closes at lowest level since June 2009
- Cathay suspends pilot, fires workers after Chinese warning
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Cathay Pacific Airways Ltd. shares tumbled to their lowest levels in a decade as China hit out at the airline after its employees joined anti-Beijing protests in Hong Kong.
Cathay shares lost 4.9% to HK$9.80 on Monday, the lowest close since June 2009. Cathay’s parent Swire Pacific Ltd. fell 6.2%, the steepest drop in almost four years, to HK$76.70.