Should investors get back on Cathay Pacific’s bumpy flight as protest storm sets off a wild ride for its stock?

After turning its first annual profit in three years just four months ago, Cathay Pacific Airways suddenly finds itself trying to navigate through fierce turbulence.

Protests that have rocked Hong Kong turned into a menacing storm for Cathay.

Halfway through a three-year plan to revive its stalling business, Cathay has been buffeted by political turbulence as Hong Kong’s hometown carrier found itself between China’s aviation regulator and its unionised crew. It’s turbulence that claimed the career of Rupert Hogg, just 27 months into his job as the Hong Kong carrier’s chief executive officer.

It’s also turbulence that sent Cathay’s share price into a nosedive, hurt its brand among all-important mainland Chinese travellers and set off a warning buzzer about its ability to juggle its loyalty to its democracy-loving customers and employees and the demands of the Chinese government.

“Cathay Pacific is kind of tossed into the middle of it. It’s kind of dragged into a very turbulent period. And it’s somewhat outside what the company can do,” said Luya You, transportation analyst at Bocom International.

On the high-stakes flight with Cathay are its shareholders. After many of them parachuted out of the stock when Cathay’s initial handling of pilots and other employees who supported the protests drew the ire of Beijing, investors have scrambled back on board.