HONG KONG: Low-cost carrier Hong Kong Airlines said Friday it will delay salary payments to some staff, warning its business has been “severely affected” by the political unrest in the city.
Nearly six months of protests in the international finance hub have dealt its tourism sector a massive blow, and airlines serving the city have struggled.
“Hong Kong Airlines’ business is severely affected by the social unrest in Hong Kong and a sustained weak travel demand,” the carrier said in a statement.
“With November being a low travel season, our revenue has dipped significantly, impacting our payroll for the month.”
It said November salaries for all staff except cabin crew and overseas employees would now be delayed until December 6, but insisted the “one-off salary arrangement does not impact our daily operation.”
Hong Kong Airlines is owned by struggling Chinese conglomerate HNA Group, which has been looking to lower its debt burden.
Earlier this year it unloaded another low-cost carrier — HK Express — to rival Cathay Pacific and it also cut some operations.
In early November, Hong Kong Transport and Housing Bureau ordered the airline to take further steps to improve its financial situation.
The tourism industry in Hong Kong has been battered by nearly six months of pro-democracy protests that have become increasingly violent, with arrivals falling by half.
The crisis comes as the economy was already feeling pressure from the China-US trade war, plunging into recession during the third quarter.
Cathay has also had a torrid year, hit by the collapse in arrivals and punished by Chinese regulators because some of its staff voiced support for the pro-democracy protests.
Singapore Airlines, China Eastern and Virgin Australia have all cut flights to Hong Kong this year.
Hong Kong Airlines delays salaries as protests hit tourism
Hong Kong Airlines delays salaries as protests hit tourism
- Nearly six months of protests in the international finance hub have dealt its tourism sector a massive blow
- Cathay Pacific has also had a torrid year, hit by the collapse in arrivals and punished by Chinese regulators
Saudi Arabia, Japan trade rises 38% between 2016 and 2024, minister says
RIYADH: Trade between Saudi Arabia and Japan has increased by 38 percent between 2016 and 2024 to reach SR138 billion ($36 billion), the Kingdom’s investment minister revealed.
Speaking at the Saudi-Japanese Ministerial Investment Forum 2026, Khalid Al-Falih explained that this makes the Asian country the Kingdom’s third-largest trading partner, according to Asharq Bloomberg.
This falls in line with the fact that Saudi Arabia has been a very important country for Japan from the viewpoint of its energy security, having been a stable supplier of crude oil for many years.
It also aligns well with how Japan is fully committed to supporting Vision 2030 by sharing its knowledge and advanced technologies.
“This trade is dominated by the Kingdom's exports of energy products, specifically oil, gas, and their derivatives. We certainly look forward to the Saudi private sector increasing trade with Japan, particularly in high-tech Japanese products,” Al-Falih said.
He added: “As for investment, Japanese investment in the Kingdom is good and strong, but we look forward to raising the level of Japanese investments in the Kingdom. Today, the Kingdom offers promising opportunities for Japanese companies in several fields, including the traditional sector that links the two economies: energy.”
The minister went on to note that additional sectors that both countries can also collaborate in include green and blue hydrogen, investments in advanced industries, health, food security, innovation, entrepreneurship, among others.
During his speech, Al-Falih shed light on how the Kingdom’s pavilion at Expo 2025 in Osaka achieved remarkable success, with the exhibition receiving more than 3 million visitors, reflecting the Japanese public’s interest in Saudi Arabia.
“The pavilion also organized approximately 700 new business events, several each day, including 88 major investment events led by the Ministry of Investment. Today, as we prepare for the upcoming Expo 2030, we look forward to building upon Japan’s achievements,” he said.
The minister added: “During our visit to Japan, we agreed to establish a partnership to transfer the remarkable Japanese experience from Expo Osaka 2025 to Expo Riyadh 2030. I am certain that the Japanese pavilion at Expo Riyadh will rival the Saudi pavilion at Expo Osaka in terms of organization, innovation, and visitor turnout.”
Al-Falih also shed light on how Saudi-Japanese relations celebrated their 70th anniversary last year, and today marks the 71st year of these relations as well as how they have flourished over the decades, moving from one strategic level to an even higher one.
