Cathay Pacific from blue chip to restructuring in Hong Kong stock market

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 Cathay Pacific from blue chip to restructuring in Hong Kong stock market


In the decades of monopolizing Hong Kongs aviation industry, Cathay Pacific has also created many firsts in Hong Kongs aviation industry. In 1986, Cathay Pacific Airways was officially listed as blue chips in Hong Kong stock market. Since 2000, Cathay Pacific has won many awards, and Skytrax has been named the worlds best airline in 2003, 2005, 2009 and 2014. In 2006, Cathay Pacific successfully acquired its competitor Dragonair.

Although it has been prosperous for decades, Cathay Pacific has also experienced labor disputes from time to time. It is not the first time that large-scale layoffs have taken place. It is even more that there have been large-scale strikes. By may 2017, due to the huge loss of 8.5 billion yuan caused by the previous fuel investment, Cathay Pacific eventually turned from profit to loss and announced large-scale layoffs. In November of the same year, Cathay Pacific was excluded from the Hang Seng index component stocks and lost its blue chip status for more than 30 years.

By 2019, Cathay Pacific is even more involved in the regulatory storm in Hong Kong. Cathay Pacific staff have participated in many illegal activities at the Hong Kong airport. In addition, there have been a number of serious safety incidents in which oxygen cylinders on the aircraft were artificially emptied. More media reports, Cathay Pacific high-level connived employees to participate in illegal activities.

However, due to several incidents, such as pilots participating in violent impact, being charged with riot crime but not stopped flying activities, and malicious disclosure of flight passenger information, there are serious potential threats to aviation safety. The State Civil Aviation Administration issued a major aviation safety risk warning to Cathay Pacific in August last year, and instructed the Central South Regional Administration of civil aviation to meet with Cathay Pacific. He Gao, then the chief executive of Cathay Pacific, resigned after the incident.

(function(){( window.slotbydup=window .slotbydup||[]).push({id:u5811557,container:ssp_ 5811557, async:true Novel coronavirus pneumonia has been falling by more than 90% over the past month, and even if the implementation of no pay period is implemented, it will of no help to the 2020. Finally, the Hong Kong SAR government announced in June that it would inject HK $27.3 billion into Cathay Pacific. However, Cathay Pacific has always been unable to escape the fate of layoffs and restructuring. As for the future, it is still difficult to predict. (Editor: Anle) copyright notice: This article is the exclusive contribution of news news news. It cant be reproduced without authorization. Source: take a look at the editor in charge of news: Yao Wenguang_ NN1682

Novel coronavirus pneumonia has been falling by more than 90% in the past month since the beginning of 2020, and it has been of no help even though the implementation of the pay free period has been implemented. Finally, the Hong Kong SAR government announced in June that it would inject HK $27.3 billion into Cathay Pacific. However, Cathay Pacific has always been unable to escape the fate of layoffs and restructuring. As for the future, it is still difficult to predict.

(Editor: Anle)

Copyright notice: This article is exclusive to news news news. It cant be reproduced without authorization.