Cathay Pacific Airways sees narrower loss in first half of year

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Hong Kong flag carrier Cathay Pacific Airways Limited (CPCAF.OB, CPCAY.PK) said that it expects loss for the first half of 2021 to be somewhat lower than the losses reported in both the first and second halves of 2020.

Cathay Pacific carried a total of 24,006 passengers in May 2012, an increase of 30 per cent from May 2020, but a 99.2-per-cent decrease from the pre-pandemic level in May 2019.

Monthly revenue passenger kilometres (RPKs) rose 24.5 per cent year-on-year, but were down 98.9 per cent versus May 2019.

Passenger load factor decreased by 2.9 percentage points to 26.7 per cent, while capacity, measured in available seat kilometres (ASKs), increased by 38 per cent, but remained 96.5-per-cent down on May 2019 levels.

The airline carried 92,394 tons of cargo and mail in May 2021, a decrease of 6.4 per cent compared to May 2020.

The month’s revenue freight ton kilometres (RFTKs) fell 16.9 per cent year-on-year. The cargo and mail load factor increased by 7.5 percentage points to 81 per cent, while capacity, measured in available freight ton kilometres (AFTKs), was down by 24.5 per cent.