Hong Kong's Cathay Pacific forecasts reduced monthly cash burn in H2

Hong Kong's Cathay Pacific forecasts reduced monthly cash burn in H2

A man walks past a Cathay Pacific Airways Ltd. logo at Hong Kong International Airport in Hong Kong, China, on Tuesday, Jan. 17, 2017. Cathay, Asia’s biggest international airline, plans to shorten its fuel-hedging program and revamp its workforce as part of a new business strategy to halt a slide in earnings. Photographer: Anthony Kwan/Bloomberg

Hong Kong’s Cathay Pacific Airways Ltd expects to reduce its cash burn to less than HK$1 billion ($128.84 million) a month in the second half of the year, its chief financial officer said.

The airline had been burning up to HK$1.9 billion of cash per month in the first half due to crew quarantine restrictions but that will fall in the second half as rules are eased for vaccinated crew and capacity rises, Chief Financial Officer Rebecca Sharpe said at an analyst briefing on Friday.

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