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Cathay Pacific Airways Posts Loss In H1 - Quick Facts

Hong Kong flag carrier Cathay Pacific Airways Limited (CPCAF.OB,CPCAY.PK) reported Wednesday that its first-half loss attributable to the shareholders was HK$9.87 billion or 250.8 HK cents per share, compared to profit of HK$1.35 billion or 34.2 HK cents per share a year ago.

Revenue for the first half declined 48.3 percent to HK$27.67 billion from HK$53.55 billion in the prior year. The Group's passenger revenue plunged 72.2 percent to HK$10.4 billion.

Revenue passengers carried fell 76.0 percent to 4.39 million from last year's 18.26 million.

Traffic, in revenue passenger kilometres declined 72.6 percent to 18.67 billion RPK. Capacity in available seat kilometres also decreased 65.7 percent to 27.73 billion ASK.

Passenger load factor was 67.3 percent, down from 84.2 percent in the previous year.

By the fourth quarter of 2020, Cathay Pacific's management said it will recommend to the Board the optimum size and shape of the Cathay Pacific Group to meet the air travel needs of Hong Kong while meeting its responsibilities to its shareholders.

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