Cathay Pacific predicts 'somewhat lower' first half loss

Business | 18 Jun 2021 7:55 pm

Cathay Pacific Airways said on 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, Reuters reports.

Crew quarantine measures have eased since mid-April and that helped Cathay operate 24 percent more freighter flights and 18 percent more cargo-only passenger flights in May compared to April, the airline said in a statement.

"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 in a statement.

Cathay reported a first-half net loss of HK$9.87 billion (US$1.27 billion) last year and a net loss of HK$11.78 billion in the second half.

 



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