Cathay Issues Second Profit Warning in Less Than a Month
- Short-term outlook remains ‘challenging and uncertain’: Cathay
- Cathay, Cathay Dragon passenger numbers fell 7.1% in October
A Cathay Pacific Airways aircraft sits at Hong Kong International Airport as protesters climb across a road divider in Hong Kong, on Sept. 1.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Cathay Pacific Airways Ltd. issued its second profit warning in less than a month as Hong Kong’s flag carrier continues to struggle from a slumping number of visitors because of the protests that have gripped the city for months.
Second-half financial results will be “significantly” lower than in the first, Cathay said in a statement Wednesday. The language in the warning was even more pessimistic than what it said last month, when it said the rest of 2019 would be “incredibly challenging.”