Cathay Pacific's shares slumped to their lowest level in 10 years in morning trading on Monday.
Cathay Pacific has warned that it would sack staff taking part in illegal protests in Hong Kong, saying it would take a “zero tolerance” approach, as its shares slumped to their lowest level in 10 years in trading on Monday.
Cathay shares lost 4.9 per cent to HK$9.80 on Monday, the lowest close since June 2009. Cathay’s parent Swire Pacific fell 6.2 per cent, the steepest drop in almost four years, to HK$76.70. He also asked staff to not “support or participate” in the illegal protest at the airport, saying the carrier was concerned that the protests could become disorderly and violent.
Global Times, a tabloid associated with Communist Party mouthpiece People’s Daily, said on Sunday the airline had still not allayed all concerns despite its adjustments to comply with the ruling.
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