Cathay Pacific Warns of ‘Significant’ Revenue Impact From August
- Airline blames fallout from anti-Beijing protests in Hong Kong
- Demand on China routes in July fell most since February
A Cathay Dragon passenger jet comes into land during a protest at Hong Kong International Airport.
Photographer: Kyle Lam/BloombergThis article is for subscribers only.
Cathay Pacific Airways Ltd. expects “significant impact” on its revenue from August and beyond as travel demand gets affected by the months-long protests in Hong Kong.
Both business and leisure travel into Hong Kong has “weakened substantially” and traffic from Hong Kong has started to soften, especially on short-haul routes to such countries as China and South Korea, Cathay Chief Customer Officer Ronald Lam said in an emailed statement Wednesday. Demand on China routes fell 2.8% in July, the biggest decline since February.