Cathay shares climb on hopes of mainland flights restarting
Cathay Pacific’s first-half results showed a net loss of $1.3bn, which included impairment charges relating to 16 aircraft unlikely to return to service
12 August 2020 - 16:59
Hong Kong — Cathay Pacific Airways shares climbed the most in nearly 12 years after a Chinese state-run newspaper tweeted that Hong Kong’s airport may restart transfer flights to mainland China, a move that could inject the beleaguered carrier with some much-needed passenger traffic.
The tweet from the Global Times added fuel to Cathay’s Wednesday morning rally, pushing it to a 12% gain, its biggest since October 2008. Shares closed at HK$5.88 in Hong Kong. The newspaper cited a source it didn’t identify, and Hong Kong International Airport didn’t immediately respond to a request for comment...
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