(TAN): The Cathay Pacific Group, which includes Cathay Pacific and Cathay Dragon, carried 27,106 passengers in June, a 99.1% drop YoY.
Based on the unaudited results of the group for the six months ended June 30 2020, and on a basis consistent in all material respects with the accounting policies normally adopted by the group as set out in the annual report for the year ended Dec. 31 2019, the directors of Cathay Pacific Airways estimate that for the six months ended June 30 2020, the group will record a net loss attributable to shareholders of approximately HKD 9.9 billion (USD 1.27 billion), down from a net profit to shareholders of HKD 1.3 billion for the same period in 2019.
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June’s revenue passenger kilometres (RPKs) for the group fell 98.8% year-on-year. Passenger load factor dropped by 59.3 percentage points to 27.3%, while capacity, measured in available seat kilometres (ASKs), decreased by 96.1%. In the first six months of 2020, the number of passengers carried dropped by 76% against a 65.7% decrease in capacity and a 72.6% decrease in RPKs, as compared to the same half-year period for 2019.
The two airlines carried 93,228 tonnes of cargo and mail last month, a decrease of 43.1% compared to June 2019. The month’s revenue freight tonne kilometres (RFTKs) fell 35.8% year-on-year. The cargo and mail load factor increased by 11.7 percentage points to 74.5%, while capacity, measured in available freight tonne kilometres (AFTKs), was down by 45.9%. In the first six months of 2020, the tonnage fell by 31.9% against a 31% drop in capacity and a 24.6% decrease in RFTKs, as compared to the first-half period for 2019.
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Cathay Pacific Group Chief Customer and Commercial Officer Ronald Lam said: “The landscape of international aviation remains incredibly uncertain with border restrictions and quarantine measures still in place across the globe. Although we have begun to see some initial developments, notably a slight increase in the number of transit passengers following the easing of transit restrictions through Hong Kong International Airport, we are still yet to see any significant signs of immediate improvement.”
