Nonrevs Beware!! Hong Kong Airlines verge of Bankrupt

Having considered the latest financial position of HKA, ATLA was of the view that HKA’s financial position has deteriorated rapidly to such an extent that has severely impacted on HKA’s capability in meeting its obligations as an employer to pay salary and the probability of providing a satisfactory service under its license in respect of continuity and regularity of operation. ATLA found the situation extremely worrying.” The airline has had to make cuts to services such as Vancouver, which have not been performing well, in addition to delaying payments to its staff.
One root cause that could be to blame for this would be the anti-Beijing protests that are ongoing in the country, causing dire trouble to both Hong Kong Airlines and Cathay Pacific.
Cathay Pacific has also been feeling the bite of these protests, with shares trading at a 10-year low, due to consumers not wanting to get into the middle of the disruption that is being caused.
Cathay Pacific is expected to issue profit warnings, as well as implementing plans to reduce capacity next year, substantiated, especially, with arrivals from Mainland China dropping 46% in October, as well as visitors to Hong Kong being reduced by a staggering 44%.
Honk Kong Airlines’ backer, HNA Group, has confirmed that it’s facing difficulties but has decided not to disclose its financials.
Other factors have included the U.S-China Trade War, which is currently reducing the amount of growth as well as the further words mentioned about authorities already over such funding.

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