Cathay Shares Resume Slide as Flight Cancellations Compound Woes
- Airline’s stock tumbled to lowest close in 10 years on Monday
- Cathay has been among biggest losers from Hong Kong protests
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Shares of Cathay Pacific Airways Ltd., which tumbled to a 10-year low on Monday, extended their slide after the carrier canceled hundreds of flights in the wake of the abrupt closure of Hong Kong’s airport.
The stock fell as much as 5.4% and was down 4.2% at HK$9.39 at 10:29 a.m. in Hong Kong, headed for its lowest close since April 2009. The airline’s parent, Swire Pacific Ltd., also dropped.