The trade group for global airlines said the Covid-19 virus can potentially contribute to a 13 percent decline in demand for Asian carriers this year.
Adding to the problems for Hong Kong, the long-running crisis that battered the city's tourism industry has coincided with weak global demand and the grinding China-US trade war.
Multiple protests are planned for Hong Kong, including a march by accountants to government headquarters and a "Baltic Chain" where protesters will join hands across different districts in the autonomous Chinese territory.
Beijing has taken an increasingly firm tone over the protests, accusing foreign countries, including the United States, of inciting unrest. China's embassy in Ottawa also warned Canada to stop meddling in Hong Kong's affairs.
The Hong Kong protests started as a peaceful rebuke of the government in April but have evolved into a direct challenge to Chinese rule over this former British colony.
The brands are the latest to get into hot water over political issues with Beijing, which has been more assertive in its territorial claims and how it expects foreign companies doing businesses in China to describe them.
Cathay became embroiled in Hong Kong's protests when China's civil aviation regulator demanded the airline suspend personnel who engaged in or supported illegal protests in Hong Kong from staffing flights into its airspace.
Hong Kong is facing an economic crisis worse than either the 2003 SARS outbreak that paralysed the city or the 2008 financial crisis, leader Carrie Lam said.
As a three-day sit-in protest at the airport continues, several hundred families are taking to the streets to show support for anti-government demonstrations that are now in their third month.
The acquisition leaves Cathay Pacific in control of three of the four airlines in Hong Kong, adding to its namesake carrier and regional subsidiary Cathay Dragon.
China's Civil Aviation Administration sent notices to dozens of airlines around the world in April asking them to adhere to Beijing's standards when referring to Taiwan.
The state-owned Gulf carrier has become the third-largest shareholder of Cathay Pacific with $662 million share purchase.
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