Hong Kong’s latest Covid restrictions have forced Cathay Pacific to drastically slash capacity, likely to mean a resumed operating cash burn from next month.
Cathay flew 134,691 tonnes of cargo in December, up 12% year on year, but down 24.1% compared with the same period in 2019, while capacity was up 6.5% year on year, but down 32.9% on 2019.
Cathay CEO Augustus Tang said: “In late December and then in early …

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Source: The Loadstar