SYDNEY (Reuters) – Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) and its major shareholders Swire Pacific Ltd (0019.HK) and Air China Ltd (0753.HK) (601111.SS) entered share trading halts in Hong Kong on Tuesday pending announcements.
Cathay’s management team on Friday met with the leaders of pilot unions at Cathay Pacific and its regional arm Cathay Dragon to brief them on condition of confidentiality ahead of an announcement expected on Tuesday, three sources with knowledge of the matter told Reuters.
A fourth person said Cathay was poised to announce a new chief executive at Dragon along with some other senior management changes. The sources declined to be identified because they were not authorised to speak with media.
Reporting by Jamie Freed; Editing by Kim Coghill