Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Hong Kong warns COVID-19 curbs on air cargo to hit goods supply

Stock MarketsJan 12, 2022 02:51AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. Chief Executive Carrie Lam takes questions from lawmakers during the first regular meeting of the legislature at the Legislative Council in Hong Kong, China, January 12, 2022. REUTERS/Tyrone Siu 2/2

HONG KONG (Reuters) - Hong Kong will soon feel the negative effects of tougher COVID-19 quarantine curbs on air crew, with cargo traffic and the supply of goods into the city set to drop, Chief Executive Carrie Lam said on Wednesday.

Hong Kong's first transmission of the Omicron variant of the coronavirus was detected at the end of last year after three months of zero infections in the community, prompting authorities to tighten quarantine measures, including on air crew, and reintroduce wide-ranging restrictions on social life.

More than 40 local cases have since been discovered.

Authorities said the outbreak could be traced back to two air crew members of Cathay Pacific Airways (OTC:CPCAY) who broke self-isolation rules. An investigation has been launched into the airline.

The tighter rules prompted Cathay to cancel most of its planned passenger and cargo flights in January. Cathay will operate about 20% of its pre-pandemic cargo capacity and around 2% of its pre-pandemic passenger flight capacity this month.

Lam, speaking at the opening session of the Asian financial hub's new "patriots-only" legislature, said Hong Kong already had the strictest measures against imported coronavirus infections and it was difficult to tighten them further.

"The consequences of these cargo policies will be seen very soon," Lam told legislators. "We almost have no goods entering via cargo flight."

"Destroying this industry will not only affect the flight companies, it will affect every citizen."

Lam said she expected some goods to be unavailable or their price to go up, with food, electronics and medicine among the worst affected.

Returning air crew now need to quarantine for seven days in a hotel, having earlier been asked to isolate at home for three days. Most other residents returning to Hong Kong have to quarantine for 21 days in a designated hotel at their own cost.

On Tuesday, Lam said kindergartens and primary schools must stop face-to-face classes from Friday until after the Lunar New Year at the beginning of February.

She has also ordered a disciplinary investigation into 13 senior government officials who attended a birthday party for a delegate to China's legislature after health officials appealed to Hong Kong people to avoid large gatherings.

Hong Kong warns COVID-19 curbs on air cargo to hit goods supply
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Kaveh Sun
Kaveh Sun Jan 12, 2022 2:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Lam is a puppet
David David
David9 Jan 12, 2022 2:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
why?
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email