{"id":5991,"date":"2019-09-04T22:45:16","date_gmt":"2019-09-05T03:45:16","guid":{"rendered":"http:\/\/planesintheair.com\/?p=5991"},"modified":"2019-09-04T22:45:16","modified_gmt":"2019-09-05T03:45:16","slug":"cathay-pacific-shares-fall-nearly-4-after-chairman-resigns","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=5991","title":{"rendered":"Cathay Pacific Shares Fall Nearly 4% After Chairman Resigns"},"content":{"rendered":"\n
\"\"
Slosar attends a news conference in Hong Kong<\/figcaption><\/figure>\n\n\n\n

HONG KONG (Reuters) – Shares in Cathay Pacific Airways Ltd fell nearly 4% in early trade on Thursday following the resignation of its chairman after the market closed on the previous day.<\/p>\n\n\n\n

The departure of John Slosar was announced less than three weeks after mounting Chinese regulatory scrutiny led to the shock exit of its chief executive, Rupert Hogg.<\/p>\n\n\n\n

Cathay shares had closed 7.2% higher on Wednesday as the Hong Kong market was lifted by reports of the withdrawal of a controversial extradition bill, which was officially announced after the market closed.<\/p>\n\n\n\n

Long-serving Swire Pacific Ltd executive Patrick Healy was appointed as Cathay’s new chairman on Wednesday following the resignation of Slosar, who had served in the role since 2014.<\/p>\n\n\n\n

“As John would have retired soon anyway it’s not really a huge setback as a business,” an analyst said of Slosar’s departure. “However it’s always awful to see when politics dictate like this.”<\/p>\n\n\n\n

The analyst, who was not authorised to speak publicly about personnel changes, said he believed if the political situation in Hong Kong stabilised, the situation at Cathay should as well.<\/p>\n\n\n\n

Daiwa Capital Markets analyst Kelvin Lau said the extradition bill’s withdrawal was positive for Cathay, even though protests were not expected to end immediately.<\/p>\n\n\n\n

“We expect this to be a turning point where the situation would at least not worsen,” he said in a note to clients, adding that recent personnel changes at the airline should satisfy the requirements of the Chinese regulator and were likely to instill confidence among customers.<\/p>\n\n\n\n

China’s aviation regulator last month said crew who engaged in the anti-government protests in Hong Kong posed a threat to safety and should be suspended from staffing flights to the mainland and over its airspace.<\/p>\n\n\n\n

(Reporting by Donny Kwok and Jamie Freed, writing by Jamie Freed, editing by Richard Pullin)<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

Shares in Cathay Pacific Airways Ltd fell nearly 4% in early trade on Thursday following the resignation of its chairman after the market closed on the previous day. The departure of John Slosar was announced less than three weeks after <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[797,3965,89,5637,6117,5992,5670,2203,4957,5676,1397,868,1103],"tags":[118,2172,625,1966,6741,1642,6745,160,3553,988,2390,1015,2053,1216,446,1558,3796,6748,6749,1907,6744,5182,688,2858,6740,2859,4747,412,1016,6746,6747,5745,6261,3871,3006,6739,6262,1288,6743,2608,2275,4255,3651,1691,1658,1916,6742],"class_list":["post-5991","post","type-post","status-publish","format-standard","hentry","category-airline-news","category-airport-news","category-aviation-news","category-business-news","category-china-news","category-economic-news","category-economy-news","category-finance-news","category-global-politics","category-international-news","category-stock-news","category-transportation-news","category-travel-news","tag-airlines","tag-airspace","tag-airways","tag-analyst","tag-announced","tag-anti","tag-appointed","tag-aviation","tag-bill","tag-business","tag-capital","tag-cathay","tag-chairman","tag-chief","tag-china","tag-chinese","tag-customers","tag-daiwa","tag-departure","tag-executive","tag-extradition","tag-fall","tag-government","tag-hong","tag-john-slosar","tag-kong","tag-markets","tag-news","tag-pacific","tag-patrick-healy","tag-political","tag-politics","tag-protests","tag-regulator","tag-regulatory","tag-resignation","tag-resigns","tag-reuters","tag-rupert-hogg","tag-scrutiny","tag-shares","tag-suspended","tag-swire","tag-transport","tag-transportation","tag-travel","tag-withdrawal"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/5991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5991"}],"version-history":[{"count":2,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/5991\/revisions"}],"predecessor-version":[{"id":5996,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/5991\/revisions\/5996"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}