Cathay Pacific flags H1 loss of $1.3b as travel demand battered
Cathay Pacific expects an H1 net loss of HK$9.9b ($1.3b), including impairment charges on 16 planes, the airline said Friday, as the coronavirus pandemic crushed travel demand. Earlier, the airline had flagged a “substantial” H1 loss and that it had burned through cash of HK$2.5b to HK$3b each month since February. The H1 loss estimate compares to a profit of HK$1.347b profit in H1 2019, before widespread anti-government protests and the virus withered demand.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-07-17/oneworld/cathay-pacific-flags-h1-loss-of-1-3b-as-travel-demand-battered
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Cathay Pacific flags H1 loss of $1.3b as travel demand battered
Cathay Pacific expects an H1 net loss of HK$9.9b ($1.3b), including impairment charges on 16 planes, the airline said Friday, as the coronavirus pandemic crushed travel demand. Earlier, the airline had flagged a “substantial” H1 loss and that it had burned through cash of HK$2.5b to HK$3b each month since February. The H1 loss estimate compares to a profit of HK$1.347b profit in H1 2019, before widespread anti-government protests and the virus withered demand.<br/>
