(Reuters Breakingviews) - Beijing officials have crowded the cockpit at Cathay P...
A flight attendant stands inside the Economy Class of a new Cathay Pacific Airways Airbus A350 after being received by the airline at Hong Kong Airport May 30, 2016. REUTERS/Bobby Yip
Cathay is a local institution, which has expanded its influence over the decades along with the city. The $5 billion company has some 27,000 staff, many of them based in Hong Kong. That makes its concessions all the more painful. There are few palatable options for Hogg, who is already dealing with cargo yields battered by a trade war and a turnaround plan that leans heavily on revenue growth. Cathay has no domestic market and can ill-afford the loss of mainland passengers. State carrier Air China is its second-largest shareholder, behind Swire, the bottling-to-property conglomerate.
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