30 August 2016 at 1:04 GMT
Cathay Pacific Airways Ltd. has collected an unwanted title. Equity strategists have less enthusiasm for the carrier than any other member of the Bloomberg World Airlines Index, according to a ranking of analyst ratings. Cathay shares have tumbled 11% this month, falling to a record low versus Hong Kong’s Hang Seng Index on August. 22, as brokerages including Credit Suisse Group AG cut their recommendations on the stock. Asia’s biggest international carrier posted an 82% drop in first-half net income as losses from fuel hedging mounted and passenger yields slumped to their lowest in seven years. Rising competition from Chinese airlines and capacity constraints at Hong Kong’s airport are denting the outlook for Cathay Pacific, according to UBS AG, the top forecaster for the stock over the past year.
Read full article at Bloomberg