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Cathay Pacific Airways forecasts substantial but lower interim losses
June 15th 2022
Cathay Pacific Airways chief customer and commercial officer, Ronald Lam, said the Hong Kong-headquartered group is forecast to report trimmed losses in its fiscal first half. Read More » “With the recent adjustments to travel restrictions and quarantine requirements, we have resumed more flight capacity in the second quarter,” Lam said in the company’s monthly traffic report for May. “Given a strong underlying cargo performance coupled with our cost-management measures implemented in the last two years, our consolidated losses in the first half of 2022, while substantial, are expected to be lower than the consolidated losses reported in interim 2021.” Cathay Pacific reported a net loss of HK$7.9 billion (US$1 billion) for the six months to June 30, 2021. The oneworld alliance member’s passenger capacity was 4% of pre-COVID-19 levels in May with frequencies into China limited by capacity restrictions. The airline carried 57,982 passengers for the month, up 42% from the 40,823 passengers flown in April.
