Just as Singapore Airlines was giving employees an eight-month salary bonus after record profits, Hong Kong was giving away more than 4,400 free tickets for regional rival Cathay Pacific as the city sought to encourage visitors to return.
Shares of Singapore Airlines have soared to their highest levels in more than three years after the national carrier made clear the strength of its post-pandemic recovery with an annual profit of S$2.16bn ($1.6bn) for the year ending in March.
In stark contrast, shares in Hong Kong-listed Cathay Pacific have dropped nearly 40 per cent from a high in April 2019. In March, the airline unveiled a HK$6.5bn ($830mn) loss for 2022 and shares have remained flat since.
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