Cathay Pacific, the flagship airline from Hong Kong, is expected to incur losses between $720 million and $783 million for 2021.
According to its announcement, the losses were caused by increasing capacity and revenue from cargo flights, particularly by strong cargo demand and high cargo yield. Cathay Pacific carried 1.3 million tonnes in 2021, the same as in 2020, 700,000 tonnes less than in 2019.
In passenger flights, the airline only carried 717,059 passengers in 2021 compared with 4.6 million in 2020 and 35.2 million in 2019 respectively. The most generating income destinations combined were Mainland China and the Southwest Pacific.
The low performance on passenger flights is due to ongoing travel restrictions and quarantine terms by Hong Kong Government. These restrictions ...
