Cathay Pacific Airways : Says In August, Cathay Pacific And Cathay Dragon Carried Total Of 35,773 Passengers - Marketscreener.com

Sept 14 (Reuters) – Cathay Pacific Airways Ltd:

* AUGUST CATHAY PACIFIC AND CATHAY DRAGON CARRIED A TOTAL OF
35,773 PASSENGERS, A DECREASE OF 98.8% COMPARED TO AUGUST 2019

* REGIONAL GEOPOLITICAL TENSIONS AND ONGOING CHINA-US TRADE
DISPUTE COULD HAVE SIGNIFICANT ADVERSE EFFECT ON AIRFREIGHT
DEMAND

* RESTRUCTURING WILL BE “INEVITABLE” TO PROTECT COMPANY

* “WE ARE BURNING CASH AT A RATE OF HK$1.5 BILLION TO HK$2
BILLION
PER MONTH”

* ON PASSENGER DEMAND FRONT, STILL HAVEN’T SEEN SIGNS OF
IMMEDIATE
IMPROVEMENT;

* IN AUGUST CATHAY PACIFIC AND CATHAY DRAGON CARRIED 102,122
TONNES OF CARGO AND MAIL

* WILL CONTINUE TO EXPERIENCE SIGNIFICANT CASH BURN UNTIL
MARKET
RECOVERS

* REVISED OPERATING PASSENGER FLIGHT CAPACITY DOWN TO ABOUT
10% IN
SEPTEMBER AND SIMILAR LEVELS IN OCTOBER

* LOOKING AHEAD, CO CAUTIOUSLY OPTIMISTIC OF “REASONABLY
PROMISING” CARGO PEAK SEASON

* COMBINED AUG PASSENGER LOAD FACTOR 19.9%, DOWN 60 PERCENT
POINTS

* AUGUST CATHAY PACIFIC AND CATHAY DRAGON CARGO AND MAIL
LOAD
FACTOR INCREASED BY 14.2 PERCENTAGE POINTS TO 75%

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