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BUZZ-Cathay Pacific slips as Hong Kong tightens crew quarantine restrictions

reuters.com · 12/29/2021 23:42
BUZZ-Cathay Pacific slips as Hong Kong tightens crew quarantine restrictions

** Shares of Hong Kong flagship carrier Cathay Pacific Airways CPCAY slip 1.4% to HK$6.43, on course to snap six consecutive sessions of gains

** Airlines in Hong Kong have been told that crew working on non-mainland China passenger flights will lose all quarantine-related exemptions effective midnight on Wednesday - South China Morning Post (SCMP)

** Cathay Pacific is already at risk of widespread flight cancellations in coming days as the carrier is unable to secure enough hotel rooms to meet new rules - SCMP nFWN2TE01T

** "The further tightening of crew quarantine restrictions continues to constrain our ability to operate flights as planned," Cathay says in an email to Reuters, adding it is consolidating passenger flight schedule for January 2022

** Hong Kong authorities did not immediately respond to Reuters request for comment

** Hang Seng Commerce & Industry index .HSNC climbs 0.3%; both Hang Seng consumer goods and services index .HSCGSI and Hang Seng index .HSI up 0.2%

** Cathay stock down 9.1% this year as of last close


(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))