Cathay Pacific expects first-half net profit to reach HK$4 – 4.5 bn, compared to nearly HK$5 bn loss a year ago
COMPANY NEWS
Cathay Pacific expects first-half net profit to reach HK$4 – 4.5 bn, compared to nearly HK$5 bn loss a year ago
COMPANY NEWS

Cathay Pacific expects first-half net profit to reach HK$4 – 4.5 bn, compared to nearly HK$5 bn loss a year ago

 

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Hong Kong flagship carrier Cathay Pacific Airways said it’s expected to report a consolidated profit attributable to shareholders of about HK$4 – HK$4.5 billion for the first half of the year, which compares to a loss of HK$4.999 billion a year earlier.

The company paid the deferred dividends of HK$1.524 billion on June 30 and it intends to pay all future dividends on the Preference Shares as they fall due, it said.

In addition, subject to market conditions and the company’s business operations, the company plans to redeem all the Preference Shares over the next 12 months, it said.

The airline’s CEO Ronald Lam said that a special gratuity payment of up to six weeks’ eligible pay will be distributed , which will be given to employees along with their salaries for September, in order to show the gratitude for employees who have endured the difficult times together with the company.