On June 11, Cathay Pacific fell 3.02% in regular trading, trading at HK$11.57, with trading volume of HK$74.46 million. The decline extends selling pressure from multiple negative catalysts in recent sessions.

On the news front, Swire Pacific announced on June 9 that its wholly-owned subsidiary Swire Pacific Finance will issue HK$4.7 billion in zero-interest exchangeable bonds, convertible into approximately 356.6 million Cathay Pacific shares at an initial exchange price of HK$13.18 per share, representing roughly 5.9% of issued shares. This follows Swire's March placement of 153 million Cathay shares at HK$11.74 each, reducing its stake from 47.64% to 45.12%. The successive stake reductions have weighed heavily on investor sentiment.

Additionally, rising fuel costs remain a significant headwind. IATA downgraded its global airline industry net profit forecast, projecting fuel expenditure to surge nearly 39% year-on-year to approximately US$350 billion. Cathay Pacific CEO indicated the company may cut flights in September if fuel prices remain elevated. Within the airlines sector, Air China fell 4.41%, China Eastern Air declined 4.02%, and China Southern Air dropped 3.43%.

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