Cathay Pacific Airways, after worries that Hong Kong's strict Covid rules could doom the airline, is beginning its post-pandemic bounce back as the Chinese special administrative region eases its border…
Cathay Pacific announced on Wednesday that CEO Augustus Tan would be stepping down on December 31 and chief customer and commercial officer, Ronald Lam would succeed him.
At a time when most destinations around the world are opening to unvaccinated travelers, Hong Kong is still pussyfooting around shortening the seven-day hotel quarantine period. Think it's time to live with pandemic? Try telling that to Hong Kong.
While airlines around the world and even elsewhere in Asia plot their recovery strategy and add back flights, Hong Kong's Cathay Pacific may have to avail itself of more state aid. The struggling airline flew just 2 percent of its pre-pandemic passengers in April.
The resumption of flights may be a step in the right direction. However, it remains to be seen if Hong Kong will prioritize the reopening of the border with the Mainland over opening the international border.
Hong Kong's Cathay Pacific Airways will bleed cash this year, thanks to the region's strict quarantine regulations. With no domestic market to fall back on, Cathay Pacific has seen its passenger traffic plummet to just about 5 percent of pre-pandemic levels.