[ET Net News Agency, 17 July 2020] Cathay Pacific Airways Limited (00293) said it is
estimated that for the six months ended 30 June 2020, the group will record a net loss
attributable to shareholders of approximately HK$9.9 billion, which compares to a net
profit to shareholders of HK$1.3 billion for the same period in 2019. This includes
impairment charges amounting to approximately HK$2.4 billion, which are mainly related to
16 aircraft that are unlikely to re-enter meaningful economic service again before the
2021 summer season together with certain airline service subsidiaries assets.
Cathay Pacific and Cathay Dragon carried a total of 27,106 passengers last month, a
decrease of 99.1% compared to June 2019. The month's revenue passenger kilometres (RPKs)
fell 98.8% year-on-year. Passenger load factor dropped by 59.3 percentage points to 27.3%,
while capacity, measured in available seat kilometres (ASKs), decreased by 96.1%. In the
first six months of 2020, the number of passengers carried dropped by 76% against a 65.7%
decrease in capacity and a 72.6% decrease in RPKs, as compared to the same half-year
period for 2019.
The two airlines carried 93,228 tonnes of cargo and mail last month, a decrease of 43.1%
compared to June 2019. The month's revenue freight tonne kilometres (RFTKs) fell 35.8%
year-on-year. The cargo and mail load factor increased by 11.7 percentage points to 74.5%,
while capacity, measured in available freight tonne kilometres (AFTKs), was down by 45.9%.
In the first six months of 2020, the tonnage fell by 31.9% against a 31% drop in capacity
and a 24.6% decrease in RFTKs, as compared to the first-half period for 2019. (RC)