By Yifan Wang
Cathay Pacific Airways said it expects to swing to a profit in the first half of the year, as a rebound in travel demand after China’s reopening helped the carrier recover from tough pandemic years.
Hong Kong’s flagship airline said Friday that it expects to post net profit of about 4.0 billion Hong Kong dollars (US$511.4 million) to HK$4.5 billion. The company reported a HK$5.00 billion loss for the first half of 2022.
Cathay Pacific posted sharply higher traffic figures for June, with the total number of passengers carried in the month rising 10 times from a year earlier.
The company said the travel outlook for July and August is “encouraging,” but cargo demand is expected to be subdued in the near term.
“Although cargo demand is expected to remain flat throughout the summer period, we are already preparing for demand to pick up in the latter part of the third quarter,” the company said.
Write to Yifan Wang at [email protected]
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