Hong Kong flagship airline Cathay Pacific hit with financial trouble amid coronavirus outbreak

Hong Kong flagship airline Cathay Pacific hit with financial trouble amid coronavirus outbreak

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Hong Kong’s flagship airline Cathay Pacific Airways is scrambling to ride out a financial storm caused by the coronavirus outbreak, coming right on the heels of months of anti-government protests in its home city as well as the US-China trade war. As the region tries to prevent the spread of the virus that causes the deadly Covid-19 illness, Cathay Pacific has cancelled more than a half of its scheduled flights in February and March 2020. Aviation experts say that as the outbreak wreaks havoc on air travel, Hong Kong’s international airport is also likely to be struggling to take off again at a pace even slower than was after the 2002-2003 Sars outbreak.

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48 Comments

  1. Polly on February 29, 2020 at 11:53 am

    Thanks to Corona Virus. It gives pause to man’s busy activities for physical desires and satisfaction. Now that many people are quarantined in their homes
    , it has time to examine our conscience for whatever fault and eniquities we have and beg for mercy and forgiveness for our spiritual nourishment.

  2. Jeff Jeff on February 29, 2020 at 11:53 am

    The situation should be equally bad for other airlines. Their share prices reveal the financial difficulties they are going to face in the coming months.

  3. 1986prs on February 29, 2020 at 11:56 am

    I hope they’re disinfecting those close-quartered-viral-incubation -tubes while they’re grounded or the virus will spread all over again…

  4. F. Bab on February 29, 2020 at 11:57 am

    great airline , I have fly with them to Melbourne
    great service, I hope they can combat the challenge.

  5. JOÃO de SOUSA FERREIRA on February 29, 2020 at 11:57 am

    … O POVO Chines É UM POVO MUITO INTELIGENTE, LUTADOR E PERSISTENTE. .. EU ACREDITO QUE LOGO, LOGO ELES DESCOBRIRÃO UM MEIO DE BARRAR ESSA PRAGA, DENOMINADA "novo coronavírus", QUE DE "NOVO", NÃO TEM NADA. FORÇA, China… FORÇA Huwan. ESTAMOS NA MESMA LUTA, QUE DE RESTO É DE TODA A Humanidade. SAUDAÇÕES E PENSAMENTOS POSITIVOS, DESDE O Brasil !!!

  6. guyfromkk on February 29, 2020 at 11:58 am

    Cathay’s grounded fleets reminded me of the similar scenario back in 2003 during SARS.

  7. Carlo Navalta on February 29, 2020 at 12:00 pm

    That’s too bad for Cathay Pacific.

  8. Aldo Suarez on February 29, 2020 at 12:00 pm

    I don’t think they will make it. Such a shame.

  9. No Money on February 29, 2020 at 12:01 pm

    I’m very worried.

  10. rthelionheart on February 29, 2020 at 12:03 pm

    A major benefit of having such a nasty cuisine, a pestilence given to the World as a gift. The Chinese eat anything that moves. The West may not be perfect but our eating habits are not all that terrible.

  11. W Y on February 29, 2020 at 12:03 pm

    THE 3 BIG CHALLENGES HONG KONG FACED – TRADE WAR AND ITS PRESSURE ON HK DOLLAR PEG, PROTESTS, CORONOVIRUS, MERGED AND AUGMENTED EACH OTHER PERFECTLY IN TIMING. SUCH PRECISION DOES NOT OCCUR NATURALLY, ANY MATHEMATICIAN KNOWS THAT THE PROBABILITY AGAINST THIS IS TOO ASTRONOMICAL. LOGIC POINTS TO IT BEING PLANNED.
    HONG KONG ( AND CHINA ) IS UNDER ATTACK. GUESS WHO HAS BEEN ATTACHING AND WOULD BENEFIT THE MOST FROM THIS ???

  12. akbar abay on February 29, 2020 at 12:05 pm

    Still.lot money in tha pocket

  13. Shirley Young on February 29, 2020 at 12:06 pm

    We know it’s not because of virus, but they dare to blame virus only. Too many staff from Cathy Pacific are racists, but their preferred passengers from western countries cannot secure their business.
    Enjoy redundancy and Cathy is forever bottom of my list.

  14. elegy slp on February 29, 2020 at 12:07 pm

    Man proposes , virus disposes .Are we looking at a bankruptcy filing .Covid has hit Cathay Pacific hard when it was already down . Because a major part of its revenue comes naturally from mainland China the effect is particularly severe . Even the best organisations are helpless in the face of a natural disaster . Really hope Cathay survives and prospers .

  15. Mohabat khan Malak on February 29, 2020 at 12:07 pm

    Have known Cathay Pacific since the 1970’s, best wishes to the staff. And like that old DC 3 showing the companies history.

  16. Notmuch Tosay on February 29, 2020 at 12:09 pm

    I think they should have been down half an yr ago when their employees were so crazy on rioting and striking.

  17. Aziz Raya on February 29, 2020 at 12:11 pm

    Strategic virus aiming to crash down the economy of specific countries what a coincidence!!!

  18. David Ahyew on February 29, 2020 at 12:11 pm

    Serve u right. It’s the most cocky airline. Now what nobody wants to take ur airline. Go bankrupt
    My hope

  19. Fabien Boythias on February 29, 2020 at 12:13 pm

    Cathay Pacific has been in trouble for the past few years and 2019 was hard. This is really going to hurt them.

  20. Pig Fucker on February 29, 2020 at 12:15 pm

    this is positve for the global environment. since it lowers the carbon emission.

  21. Lar M on February 29, 2020 at 12:19 pm

    Cathay Pacific has been struggling financially for decade way before the Hong Kong protest and the outbreak of this Virus ever since the start of the rapid increase of international flights operating from China airline.

  22. Bill Cheung on February 29, 2020 at 12:23 pm

    Hong Kong airline Cathay Pacific hit with financial trouble? buy too many sharein to airline in hk

  23. douglas fairbanks on February 29, 2020 at 12:24 pm

    All countries should ban Chinese people from travelling and quarantine them that work big corporations at western countries.

  24. A H on February 29, 2020 at 12:28 pm

    Corona-Chan will be appeased. Then we will have order

  25. Muhumuza Balaam on February 29, 2020 at 12:28 pm

    By the way,how are riots hidding now a days?

  26. Maple Canada on February 29, 2020 at 12:29 pm

    First the anti-China protesters /rioters destroyed the economy, and now Conronavirus outbreak. This really going to hurt the citizens of Hong Kong most..

  27. p c on February 29, 2020 at 12:29 pm

    Reporters use Musks for your safety please.

  28. luci75 D on February 29, 2020 at 12:29 pm

    Hahhaha. Early was the airport shut due to protest. Now the corona c make them not fly to china. HK it’s doom for this year !

  29. Calvin Kong on February 29, 2020 at 12:30 pm

    Fight for freedom , free hong kong welldone now everyone will eat sand..

  30. Jeremiah Carlos on February 29, 2020 at 12:33 pm

    China will never learn.. always preferred ANA or Singapore though

  31. Gino Lorenzo on February 29, 2020 at 12:33 pm

    Google georgia guidestones

  32. mcheong1 on February 29, 2020 at 12:35 pm

    Like this guy already suspected it. Of course they will never come out right to tell you what they r doing or planning to do, it defeats the purpose n peeps will call out on their evil deeds. Hence you need to hide behind a cloak of secrecy, privacy, freedom, n democracy to carry out the evil deeds. https://youtu.be/btF6nKHo2i0

  33. Marktuyet on February 29, 2020 at 12:36 pm

    Brought to us by the Chinese Communist Party . Never forget !

  34. Jeff on February 29, 2020 at 12:39 pm

    Poor thing. They got hit by the protest, and then the virus came.

  35. KARA BOĞA on February 29, 2020 at 12:40 pm

    pff problem

  36. lonelygoose87 on February 29, 2020 at 12:40 pm

    they should take this chance to clean up : oxygen leakers, rioters, etc. don ‘t need the job, their only interest is to 攬炒。bring back the service spirit b /4 its too late.

  37. Anthony Tolhurst on February 29, 2020 at 12:42 pm

    If I can’t fly mine, you can’t fly yours . . . . BOING’S sense of humour . . . . .

  38. David Wang on February 29, 2020 at 12:42 pm

    国泰航空活该倒闭

  39. David Kallenbach on February 29, 2020 at 12:44 pm

    There is ample alternative employment opportunities for Airline Stewards and Stewardesses, Engineers and ground managers, pilots, training and service staff for jobs worldwide. Contact stellenboschrand@gmail.com in the first instance.

  40. Fred Callueng on February 29, 2020 at 12:44 pm

    Why the gas keep going up

  41. Ed Lee on February 29, 2020 at 12:47 pm

    In order to stay off from this recession, I will be moving to Wuhan, China with a Corona Beer in my hand on a daily basis.

  42. mintico snout on February 29, 2020 at 12:47 pm

    The HK government should help with cathay financial. Otherwise if that giant business gone might cause dangerous effect

  43. May Aja on February 29, 2020 at 12:47 pm

    its a great news for me. hoping these fu*kin neo-con regime supporter airlines go bankrupt. lets sing hallelujah

  44. WeRightNow on February 29, 2020 at 12:48 pm

    Virus outbreak is pseudo science propaganda Communist propaganda.

    The human body doesn’t work this way the human body doesn’t work this way the human body wasn’t designed this way the human body wasn’t designed this way stop falling for the lies on TV stop falling for the lies on the screen stop falling for the lies that they scream stop falling for the lies and the schemes..

  45. Ushsh SHhs on February 29, 2020 at 12:48 pm

    Wow man the world is slowing down way too fast this is gonna trigger a bad bad recession

  46. Ricardo Ferreira Miranda on February 29, 2020 at 12:49 pm

    Around the world? Not a chance, Cathay haven’t got a single route to the entire Latin America!!!

  47. William Monroe on February 29, 2020 at 12:50 pm

    I really miss cathay Pacific , I love their services, They are my favorite carrier when I’m in Asia!

  48. Kranti gouripur on February 29, 2020 at 12:53 pm

    They can fly in india then

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