Foreign news agency: Cathay Pacific aims to reduce its monthly cash burn to less than 1 billion in the second half of the year

Financial News

Written by: Kuang Yueting

2021-06-28 14:57

Last update date: 2021-06-28 14:57

According to foreign news reports, Cathay Pacific Airways (0293) revealed at an analyst meeting held last Friday that the company’s latest cash loss has improved to less than 1.5 billion yuan per month. In the second half of the year, it will actively cut costs, strictly control expenditures and Continued restructuring, including layoffs, reduced average monthly cash consumption to less than 1 billion yuan.

Cathay Pacific also said that as of the end of May, the funding level was about 32.8 billion yuan. Even if the operating conditions have not improved, the funds can still support 22 to 32 months of operation.

At present, Cathay Pacific's passenger capacity has only reached 8% of the pre-epidemic capacity. The company expects that the passenger capacity will gradually increase to 10% and 30% in the next two quarters, driven by the demand of international students in the United States and the United Kingdom.

Cathay Pacific's latest report was 6.74 yuan, down 1%.

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