Cathay Gets Reprieve as China Authority Says Its Demands Met
Cathay Gets Reprieve as China Authority Says Its Demands Met
(Bloomberg) -- China’s aviation authority said Cathay Pacific Airways Ltd. complied with recent regulatory demands, providing some much-needed relief for the Hong Kong airline reeling from the scrutiny drawn over its employees taking part in anti-Beijing protests.
The carrier has sent the information of crew members flying to and over mainland as required, Gu Xiaohong, deputy head of the general department of Civil Aviation Administration of China, told reporters in Beijing on Thursday. All the information submitted by Cathay is in compliance with CAAC requirements, he said.
Cathay has emerged as a target for China after some of its employees took part in protests that have gripped Hong Kong for more than two months. The regulator last week accused the airline’s employees of threatening safety and ordered the carrier to suspend workers that supported “illegal demonstrations.”
Shares of Cathay advanced as much as 5.5% and were up 4.1% at noon in Hong Kong. The stock is down more than 12% since the end of June.
What China Asked Cathay to Do |
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| Source:Civil Aviation Administration of China |
To contact Bloomberg News staff for this story: Ken Wang in Beijing at ywang1690@bloomberg.net
To contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Ville Heiskanen, Dave McCombs
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With assistance from Bloomberg