Cathay Pacific Airways Ltd returned to profit in the second half of last year but has since been hamstrung by tough new quarantine rules for crew and said it is trying to boost cargo capacity as much as possible in an effort to cope. Hong Kong's flagship airline managed a profit of about HK$2 billion in the second half, thanks to cost cuts and strong cargo demand and pricing, even though it flew 85% fewer passengers than in 2020, when it was also affected by the coronavirus pandemic. That helped it book a slightly smaller-than-expected annual loss of HK$5.5 billion ($700 million) - also a big improvement from a loss of HK$21.65 billion the prior year. FILE PHOTO: A Cathay Pacific cargo plane carrying Fosun-BioNTech COVID-19 vaccines prepares to dock at Hong Kong International Air...
Read More
You must be logged in to post a comment.