(MENAFN) Cathay Pacific declared that its yearly deficits in the past year declined to USD750 million as Hong Kong continued to face strict Covid-19 travel limitations.
It is increasingly lesser than the deficits of 2020 and lesser than specialists’ estimation. The growth was led by robust freight demand and regulations for lowering costs.
Nevertheless, the firm stated it predicts to burn around USD192.6 million of money from February, following a tightening in aircrew quarantine regulations.
Cathay Pacific's chief executive Augustus Tang mentioned in a report, “While passenger travel continued to be acutely affected, cargo demand was strong throughout the year.”
The company predicts it would issue a yearly deficit of USD719.04 million to USD783.2 million for the past year.
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