Cathay Pacific issues profit warning in the face of ‘a decidedly unclear future’

Cathay Pacific has issued a profit warning – in anticipation of a “substantial loss” for the first half of 2020 – of about HK$9.9bn (US$1.27bn).
The carrier says it includes impairment charges of HK$2.4bn related to 16 aircraft, which are “unlikely to re-enter meaningful economic service before the 2021 summer season, together with certain airline service subsidiaries assets”.
The carrier has continued to operate a full freighter schedule as well as charter …

The post Cathay Pacific issues profit warning in the face of ‘a decidedly unclear future’ appeared first on The Loadstar.

Source: The Loadstar

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