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Omicron | Cathay Pacific expected to lose 5.6 billion to 6.1 billion last year CEO: Do everything possible to increase capacity

2022-01-24T01:14:39.438Z


Omicron is raging around the world, and Hong Kong is also threatened by Delta. The Hong Kong government has earlier tightened the crew's epidemic prevention measures and is investigating whether Cathay Pacific's exempted freighter crew members violated the quarantine rules and their "passenger aircraft departures".


Omicron is raging around the world, and Hong Kong is also threatened by Delta. The Hong Kong government has tightened the crew's epidemic prevention measures earlier, and is investigating whether Cathay Pacific has violated the rules of the quarantine exempted cargo flight crew and its "passenger-to-cargo-return" operation mode .


Cathay Pacific announced today (24th) that, based on the preliminary review of the accounts and the information obtained by the board of directors at this stage, it is expected that Cathay Pacific will record a loss attributable to shareholders of about HK$5.6 billion to 6.1 billion. A loss attributable to shareholders of HK$21.6 billion for the year ended 31 December 2020 is ideal.


Cathay Pacific Chief Executive Deng Jianrong continued to say that the Hong Kong government further tightened travel restrictions at the end of December and early January last year, and the quarantine requirements for crew members, which affected Cathay Pacific’s passenger and cargo capacity. It is expected that monthly operating cash consumption will be HK$1 billion from February onwards To 1.5 billion yuan, Cathay Pacific is making every effort to increase capacity before the situation improves, and adopting a response to increase crew resources, it is estimated that it can increase the monthly cargo capacity by about 5% compared to the current one.


+1

The number of passengers carried last month was 92,000, down 96.9% from the pre-epidemic period, while the cargo volume decreased by 24.1% in the same period

Cathay Pacific announced today that it carried 92,219 passengers in December last year, an increase of 130.6% from the same month in 2020, but a 96.9% decrease from the pre-pandemic level in December 2019; at the same time, it carried 134,600 metric tons of cargo in December last year, an increase of 12% from the same month in 2020. %, but a decrease of 24.1% compared to December 2019.

It is expected that the loss will be huge, but it is better than the loss of 21.6 billion yuan in 2020

According to Cathay Pacific, based on the preliminary review of the accounts and the information obtained by the board of directors at this stage, it is expected that Cathay Pacific will record a loss attributable to shareholders of about HK$5.6 billion to 6.1 billion. The loss attributable to shareholders for the last year was HK$21.6 billion.

It is expected that the monthly cash consumption will be 1 billion to 1.5 billion from February. Deng Jianrong: increase crew resources to cope with an additional increase of about 5% in freight capacity

Cathay Pacific CEO Tang Jianrong continued to say that the Hong Kong government further tightened travel restrictions at the end of December and early January last year, and the quarantine requirements for crew members, affecting Cathay Pacific’s passenger and cargo capacity. This month, it can only operate about 20% of the cargo capacity before the epidemic. and about 2% of passenger capacity.

According to preliminary assessment, if the above capacity level is used, it is expected that the monthly operating cash consumption will be HK$1 billion to 1.5 billion from February. It is estimated that the monthly freight capacity can be increased by about 5% compared with the current one.

Omicron | Cathay Pacific issued bonus incentives for pilots to participate in closed-loop duty flights for 4 times and can get up to nearly 100,000 yuan. It is reported that Omicron has regained air rights on all 46 routes

Source: hk1

All news articles on 2022-01-24

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