Comments from the Cathay's press release clearly indicate weak corporate travel with the company pointing out that corporate enplanements in Hong Kong declined for the first time since 2009:

The slowdown in the Mainland China economy and economic fragility elsewhere caused restrictions to be placed on corporate travel. This adversely affected premium class demand, particularly on long-haul routes.

Yield was further affected by strong competition, adverse currency movements and a significant reduction in premium corporate travel.

Demand for travel originating from Hong Kong was strong in the first two months of the year, but weakened thereafter. Corporate travel originating in Hong Kong was well below expectations, particularly to London and New York. Numbers traveling declined for the first time since 2009, when business was affected by the financial crisis.

Tourism from Mainland China to Hong Kong is weak.