Cathay Pacific expects first-half loss on weak travel demand
Shares of airline slide as number of passengers plummet over virus-related restrictions
17 July 2020 - 10:06
Hong Kong — Cathay Pacific Airways warned it is set to post a first-half net loss of about HK$9.9bn as the coronavirus pandemic roils air travel, with the Hong Kong carrier in June flying less than 1% of its usual number of passengers.
Passenger load factor for the airline and its Cathay Dragon unit was just 27.3% in June, the carrier said on Friday in a statement. International aviation remains “incredibly uncertain” because of virus-related border restrictions, chief customer and commercial officer Ronald Lam said in the release. Cathay flew 27,106 passengers last month, down 99.1% from June 2019...
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