BRIEF-Cathay Pacific Expects H1 2021 Loss To Be Lower Than H1, H2 2020

Reuters2021-06-18

June 18 (Reuters) - Cathay Pacific Airways Ltd :

* MAY PASSENGER LOAD FACTOR DECREASED BY 2.9 PERCENTAGE POINTS TO 26.7%

* BEGUN CAUTIOUSLY ADDING MORE FLIGHTS AND DESTINATIONS TO OUR SCHEDULE

* CARRIED 24,006 PASSENGERS IN MAY, UP 30% VERSUS MAY 2020

* MAY REVENUE PASSENGER KILOMETRES ROSE 24.5% YEAR-ON-YEAR BUT WERE DOWN 98.9% VERSUS MAY 2019

* FOR MAY, AVERAGE DAILY PASSENGER NUMBERS REMAINED LOW AT 774

* INCREASING LONDON FREQUENCIES TO CATER TO STUDENT TRAFFIC RETURNING TO HONG KONG FROM MIDDLE OF JUNE

* LOOK FORWARD TO RESUMPTION OF HONG KONG-SINGAPORE AIR TRAVEL BUBBLE

* OVERALL CARGO DEMAND REMAINS FIRM

* PASSENGER BELLY CAPACITY WILL REMAIN CONSTRAINED

* WILL SEE A FURTHER RESUMPTION OF FREIGHTER FREQUENCIES FROM HONG KONG TO VARIOUS REGIONS IN OUR NETWORK

* LOSSES IN H1 EXPECTED TO BE "SOMEWHAT" LOWER THAN LOSSES REPORTED IN BOTH H1 AND H2 OF 2020

* CURRENT PLAN IS BY Q4 OF 2021 TO BE OPERATING ABOUT 30% OF PRE-COVID-19 PASSENGER CAPACITY

* ABOUT 90% OF PILOTS AND MORE THAN 64% OF CABIN CREW IN HK HAVE ALREADY BOOKED OR RECEIVED THEIR VACCINATIONS

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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Benkrupt
2021-06-23
Benkrupt
Does it need to raise cash ?

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