Cathay Pacific’s October Passenger Business Remained Weak


By Yongchang Chin

Cathay Pacific Airways’ October passenger enterprise remained weak whereas its air cargo enterprise continued strengthening, Hong Kong’s flag service stated Wednesday.

The airline’s October passenger load issue was 29.6%, up 11.4 proportion factors from a yr earlier. It carried 76,430 passengers over the month, practically double its year-earlier determine, however this was 97% decrease than in October 2019 stage, it stated.

Cathay Pacific operated at round 10% of its pre-pandemic October 2019 passenger capability. Although long-haul routes have been weak, it stated short-haul flights serving the Philippines, Indonesia and Vietnam have been a brilliant spot.

The airline’s cargo load issue was 82.9%, a rise of 4.0 proportion factors. Cathay carried 136,949 tons of cargo, a 20% rise from a yr earlier however nonetheless 25% decrease than in October 2019.

Cathay stated the robust cargo season that it was experiencing, along with its cost-management practices, helped its operating-cash burn. It stated it was near attaining working money breakeven for the four-month interval from July to October.

“We anticipate that our second-half 2021 outcomes will probably be a substantial enchancment on our first-half 2021 outcomes, though our total losses for the complete yr 2021 will nonetheless be substantial,” Cathay stated.

Write to Yongchang Chin at yongchang.chin@wsj.com



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