Strict plan: Employees walking past a signage for Cathay Pacific at the Hong Kong International Airport. The airline is operating about 2% of its pre-pandemic passenger capacity in January. — AFP
HONG KONG: Hong Kong’s Cathay Pacific Airways Ltd expects to resume burning cash because of stricter crew quarantine measures after flagging a surprise profit in the second half of 2021 due to cost cuts and a strong cargo market.
The airline forecast it would post an annual loss of HK$5.6bil (RM3.01bil) to HK$6.1bil (RM3.28bil) for 2021, well below the average HK$10.2bil (RM5.48bil) estimate from 12 analysts polled by Refinitiv and its HK$21.65bil (RM11.63bil) loss in 2020.
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