Cathay Pacific urges further 'immediate assistance'

Business | 24 Mar 2020 4:27 pm

Cathay Pacific Airways (0293) said it welcomes the government's relief measures for the aviation industry but it still needs immediate assistance to overcome the current crisisc.

Hong Kong's aviation authority yesterday unveiled a HK$1 billion bailout package for the aviation industry, including a five-month waiver of aircraft parking fees.

Cathay said in an email to The Standard that "given the significant deterioration of the situation involving the COVID-19 outbreak in recent weeks, and the continued substantial challenges facing the home carriers in Hong Kong with tightened travel restrictions worldwide, we are of the view that significantly more much-needed immediate assistance, which is commensurate with the scale of this crisis, still needs to be provided."

Cathay incurred a more than HK$2 billion unaudited loss in February alone, even higher than its net income for 2019.

 

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