Hong Kong airline, Cathay Pacific Airways has posted a $637 million loss in the first half of 2022, down from $964.5 million during the same period last year.
Cathay’s first-half revenue grew 17% to $2.4 billion, driven largely by an increase in passengers following the easing of quarantine measures.
Hong Kong relaxed strict quarantine rules from 14 to 7 days in mandatory hotel quarantine earlier this year, and to just three days from Friday. It still remains one of the few places in the world, together with mainland China, to require mandatory quarantine for inbound travel
The airline’s passenger load factor, which measures how many passengers are taking up capacity, was about 59%, up from nearly 19% from the same period last year.
Cathay said that it aims to be operating at 65% of pre-COVID cargo capacity, and 25% of pre-COVID passenger capacity by December.
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