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Bloomberg
Hong Kong should urgently provide a clear roadmap for the complete removal of all Covid-19 travel restrictions, the city’s main carrier Cathay Pacific Airways Ltd said.
The airline’s statement followed the government saying it will cut mandatory hotel quarantine to three days from a week, effective from August 12. A clear plan to lift all restrictions is needed to protect Hong Kong’s status as an aviation hub, the airline said.
Hong Kong’s policies on travel, including quarantine of as long as 21 days earlier in the crisis, decimated air traffic in and out of the city and saddled Cathay with over HK$24 billion ($3 billion) in losses.
Cathay said last month it plans to operate 25% of its pre-virus passenger capacity by the end of the year, up from below 2% in the depths of
the pandemic. Rival Singapore Airlines Ltd — operating under more supportive travel policies — has said it will hit 81% around then.
Cathay’s shares rose 1.4% on Monday, taking this year’s rally to 34%, comfortably
the best performance on a Bloomberg gauge of world airline stocks.
Air China Ltd’s Hong Kong-traded shares are second-best, rising 14% this year.