Monday Oct 06 2008
All times are Beijing time
All times are Beijing time
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Cathay Pacific: Advice hurts
Published: Oct 06, 2008
Cathay Pacific Airways Ltd, Hong Kong's largest carrier, fell the most in eight months on Friday after Deutsche Bank AG advised selling the stock because slower economic growth is damping demand for premium travel.
The airline dropped 6.2 percent to HK$12.18 at the close of trading in Hong Kong. That's the lowest since October 31, 2005. The carrier also "expects things will get more difficult," Chief Executive Officer Tony Tyler said last Tuesday.
The airline dropped 6.2 percent to HK$12.18 at the close of trading in Hong Kong. That's the lowest since October 31, 2005. The carrier also "expects things will get more difficult," Chief Executive Officer Tony Tyler said last Tuesday.
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