Cathay Pacific expects lower first-half loss on cost savings, cargo flights
Cathay Pacific said Friday that losses in the first half are expected to be "somewhat" lower than last year, due to cost-saving measures and strong demand for cargo flights. Crew quarantine measures have eased since mid-April and that helped Cathay operate 24% more freighter flights and 18% more cargo-only passenger flights in May compared to April, the airline said. "Our losses in the first half of 2021, while still very substantial, are expected to be somewhat lower than the losses reported in both the first and second halves of 2020," the airline said. Cathay reported a first-half net loss of HK$9.87b ($1.27b) last year and a net loss of HK$11.78b in the second half. Cathay said it is "cautiously" adding more passenger flights and destinations, and plans to operate at around 30% of its pre-pandemic passenger capacity by Q4.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-06-21/oneworld/cathay-pacific-expects-lower-first-half-loss-on-cost-savings-cargo-flights
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Cathay Pacific expects lower first-half loss on cost savings, cargo flights
Cathay Pacific said Friday that losses in the first half are expected to be "somewhat" lower than last year, due to cost-saving measures and strong demand for cargo flights. Crew quarantine measures have eased since mid-April and that helped Cathay operate 24% more freighter flights and 18% more cargo-only passenger flights in May compared to April, the airline said. "Our losses in the first half of 2021, while still very substantial, are expected to be somewhat lower than the losses reported in both the first and second halves of 2020," the airline said. Cathay reported a first-half net loss of HK$9.87b ($1.27b) last year and a net loss of HK$11.78b in the second half. Cathay said it is "cautiously" adding more passenger flights and destinations, and plans to operate at around 30% of its pre-pandemic passenger capacity by Q4.<br/>
