Cathay Pacific investors ride ‘full recovery’ in US$3.1 billion post-pandemic stock rebound as HSBC, Credit Suisse predict more upside

The airline industry may still be struggling to regain its pre-pandemic lustre. It may not matter that much for shareholders of Cathay Pacific Airways, who are enjoying a “full recovery” as far as the stock market is concerned.

The carrier’s stock has steadily climbed 34 per cent this year in Hong Kong to HK$8.52, the highest level since March 2020, recouping about HK$24.5 billion (US$3.1 billion) of market capitalisation it lost since the initial Covid-19 outbreak in Wuhan. Analysts now see another 12 per cent upside over the next year.