Cathay Pacific forecast fiscal 2022 loss of HK$6.4 bn – HK$7 bn, highlighted upbeat outlook
STOCKS
Cathay Pacific forecast fiscal 2022 loss of HK$6.4 bn – HK$7 bn, highlighted upbeat outlook
STOCKS

Cathay Pacific forecast fiscal 2022 loss of HK$6.4 bn – HK$7 bn, highlighted upbeat outlook

 

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Cathay Pacific Airways forecast a fiscal 2022 loss between HK$6.40 billion ($817.18 million) and HK$7.00 billion, but highlighted an upbeat outlook after Hong Kong and mainland China lifted quarantine rules.

Chief Executive Ronald Lam noted a trend of continuous improvement in operations and financial performance for the airline and its subsidiaries in the second half of 2022 following the easing of pandemic-related travel restrictions. 

Demand for travel to short-haul leisure destinations shot up recently, with the company anticipating continued strength in demand in January and the Chinese New Year period, he said.