SINGAPORE: Hong Kong’s Cathay Pacific Airways on Friday lowered its expectations for full-year profit as a result of “incredibly challenging” conditions in its home market that were expected to persist for the rest of 2019.
The airline reported a 7.1 percent drop in passenger numbers for the month of September as travelers avoided Hong Kong due to widespread anti-government protests and said its second-half financial results were expected to be below the first half.
Cathay in August reported a HK$1.347 billion ($171.75 million) first-half profit. At that time, it said second-half profits were expected to be higher than the first-half, as is typically the case for the airline, based on seasonality.
Cathay Pacific lowers full-year profit expectations
Updated 18 October 2019
Cathay Pacific lowers full-year profit expectations
- The airline reported a 7.1 percent drop in passenger numbers for the month of September
- Travelers have avoided Hong Kong due to widespread anti-government protests
