Cathay pacific slows monthly loss by 50%

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  • cwoodward
    Participant

    With frugal management and by deferring some aircraft deliveries cathay has reduced its monthly cash burn by 50%.
    It is perhaps worth noting that the Cathay Pacific group (Cathay Pacific, Cathay Dragon and Hong Kong Express Airlines and Air Hong Kong) are still paying 100% of Hong Kong based pilots full salary. This may not be unique but among large airlines I know of no other airline group that has kept its pilot group together in this way.

    https://www.scmp.com/news/hong-kong/transport/article/3094219/hong-kongs-cathay-pacific-delays-aircraft-deliveries

    1 user thanked author for this post.

    DavidGrodentz
    Participant

    They have done well to do so for so long, especially as they have had to contend with the HK situation from last year as well

    Although, the vast majority of staff have taken periods of voluntary unpaid leave over the period as well

    Now that the new funding is in place, the CX group will press ahead with the restructuring.

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