Due to the Impact of COVID-19... Hong Kong Cathay Pacific Reports 1.5 Trillion Won Loss in First Half
Average Daily Passengers of 900 in June
[Asia Economy Reporter Yoo Je-hoon] Cathay Pacific, Hong Kong's flagship carrier, is expected to record a loss of 9.9 billion Hong Kong dollars (approximately 1.5 trillion KRW) in the first half of this year, according to the South China Morning Post (SCMP) on the 17th.
According to the report, Cathay Pacific announced that its preliminary results for the first half of this year showed such figures. SCMP analyzed that this surpasses the net loss of 8.2 billion Hong Kong dollars (approximately 1.2 trillion KRW) incurred during the 2008 global financial crisis.
The loss by Cathay Pacific is due to a decrease in passenger numbers caused by the COVID-19 pandemic. According to the report, Cathay Pacific carried an average of 900 passengers per day in June. This is less than 1% compared to the usual daily average of about 100,000 passengers.
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Meanwhile, Cathay Pacific is scheduled to announce its first half results around mid-next month.
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