News
Cathay Pacific Airways “well positioned” to benefit from pent-up passenger demand
August 15th 2022
Interim financial results from Cathay Pacific Airways indicated a “luminous outlook” for the carrier from an easing of travel restrictions and encouraging signs of increased passenger demand, a HSBC Global Research analysis wrote last week. Read More » “Cathay Pacific is well positioned to benefit from strong pent-up demand amid further relaxation of travel rules, a best ever cargo market, favourable fuel hedging at US$50-$60 a barrel, effective cost management and a well-capitalised balance sheet,” the HSBC research note, dated August 11, said. “Cathay Pacific is very likely to be profitable in second half 2022.”
Last week, the Hong Kong-headquartered airline reported a net loss of HK$5 billion (US$638 million) for the six months to June 30, an improvement from a net loss of HK$7.6 billion in the same months in 2021. Revenue rose 17%, to HK$18.6 billion, Cathay Pacific said in a regulatory filing to the Stock Exchange of Hong Kong. The airline group is planning for 65% of pre-COVID-19 capacity by year end and forecasts its second half performance will improve from its first half.
