Shares of Cathay Pacific opened down 1.6% in Hong Kong on Wednesday after the city's flagship airline recorded yet another dismal month and said it would reduce capacity next year. But the stock reversed direction in mid-morning trade and was last up 0.2%.
During the week, Ricky pilots passenger jets traveling around the world for one of Hong Kong's flagship airlines, Cathay Pacific. But when the weekend arrives, he sheds his pilot cap and blazer in exchange for a face mask and helmet, and goes out to join the anti-government protests which have dominated the semi-autonomous Chinese city over the past four months.
Hong Kong saw a significant drop in air passenger numbers last month as political unrest in the Asian financial hub continues unabated.
Cathay Pacific CEO Rupert Hogg is resigning after a tumultuous week for Hong Kong's leading airline.
Authorities in Hong Kong have canceled hundreds of flights this week because of major protests at the city's international airport. That's terrible news for companies operating in the financial hub.
Cathay Pacific on Monday warned its staff that those who "support or participate in illegal protests" in Hong Kong could be fired.
Political turmoil is making it harder for global companies to do business in Hong Kong.
Hong Kong airline Cathay Pacific has revealed it is recording passenger activity on its aircraft via inflight entertainment systems and video cameras, re-opening an uncomfortable debate over surveillance on airplanes.
Mass demonstrations and strikes in Hong Kong forced its biggest airline, Cathay Pacific, to cancel more than 150 flights on Monday and urge passengers to postpone non-essential travel.
After Cathay Pacific accidentally listed some first-class and business tickets at a discount of up to 95% at the start of the month, the airline tweeted a sheepish "#lessonlearnt."
