Cargo accounted for nearly 60% of Cathay Pacific’s revenues last year, up from 22% a year earlier, as the Hong Kong carrier announced a loss of HK$21.6bn (US$2.7bn).
Group revenue fell by more than half as capacity plummeted 79% and passenger numbers 87%. The group is spending some HK$2.4bn on restructuring, which has cut the monthly cash burn by about HK$500m a month.
Cargo was, of course, the star performer – but …
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Source: The Loadstar