August 10, 2022

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Cathay However Mired in Covid Issues With Website traffic Down 99%

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(Bloomberg) — Cathay Pacific Airways Ltd. carried just 37,815 travellers in November, down 98.6% from a year earlier, and warned that its next-fifty percent losses will be substantially even worse than the HK$9.9 billion ($1.3 billion) hemorrhage in the very first six months.



a plane sitting on the tarmac at an airport: Cathay Pacific Aircraft at Hong Kong Airport Ahead of Earnings


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Cathay Pacific Aircraft at Hong Kong Airport Forward of Earnings

Typical passenger capacity in the 2nd 50 percent is only most likely to be 8.4% of pre-pandemic concentrations, in contrast with 34.3% in the first half, the Hong Kong-dependent provider said Wednesday. Restructuring and impairment charges will incorporate to the strain on earnings as demand continues to be elusive.

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“We are nonetheless not observing important desire for travel as we head towards the end of 2020 — historically a strong vacation period in the year,” Cathay’s Main Buyer and Professional Officer Ronald Lam reported in a statement.

Cathay’s passenger targeted traffic has been down about 99% every single month given that April as Covid-19 and similar journey constraints decimated demand from customers. November revenue passenger kilometers fell 97.9% from a year previously, whilst passenger load element was just 18.5%. The airline carried 116,853 tons of cargo and mail, down 34.3%, with a load aspect of 77.7%.

“We are even now not seeing any significant advancement in our passenger business. On normal, we carried just 1,261 travellers for every day” — Ronald Lam

Lam said Cathay has launched chartered freighter flights to Riyadh and a seasonal cargo service to Australia’s Hobart will start off in mid-December for exports of Tasmanian generate to Asia. The Intercontinental Air Transport Association has re-licensed the airline with its CEIV Pharma accreditation to ship temperature-controlled products this sort of as vaccines.

Cathay expects to run at about 9% of pre-pandemic passenger capacity this thirty day period and slightly previously mentioned 10% in January, Lam explained.

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