|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||4.3000 - 4.3500|
|52 Week Range||3.2500 - 6.6100|
|Beta (5Y Monthly)||1.31|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.50 (11.56%)|
|Ex-Dividend Date||Aug 12, 2020|
|1y Target Est||N/A|
The decision to close the Canadian base is final, while Australia and New Zealand is a proposal at this stage and will involve a good-faith consultation process with employees, Cathay said. In Australia and New Zealand, employers must consult with staff before redundancies as part of union agreements but it is rare for publicly announced decisions to be reversed. Qantas Airways Ltd and Air New Zealand Ltd made similar announcements last year about consultations before proceeding with their planned staff cuts.
The airline had previously said rules that took effect on Feb. 20 and required most crew to quarantine for two weeks in hotels before returning to normal life in Hong Kong would increase cash burn by about HK$300 million to HK$400 million ($38.62 million-$51.49 million) per month, on top of the regular HK$1 billion to HK$1.5 billion levels. "Just this week, the government announced that it would lift the mandatory quarantine requirement for fully vaccinated Hong Kong-based aircrew on freighters and cargo-only passenger flights from today," Cathay Chief Customer and Commercial Officer Ronald Lam said.
The U.S. government warned it could limit flights by Hong Kong-based carriers that got a leg up on U.S. rivals after the Asian financial hub imposed quarantine rules that forced U.S. cargo carrier FedEx Corp to move some crews to San Francisco. The U.S. Transportation Department (USDOT) issued an order on Tuesday requiring Hong Kong-based Cathay Pacific Airways Limited to file flight schedules for all U.S. flights within seven days to determine if any are "contrary to applicable law or adversely affect the public interest".