Published on Sunday, May 17, 2020

Cathay Pacific passenger traffic sinks by more than 99 per cent

Cathay Pacific's fortunes continue to plummet during the global Covid-19 pandemic.

The Hong Kong flag carrier saw passenger traffic plunge by a massive 99.6% in April.

Cathay group airlines handled just 13,729 passengers last month.

Load factor was down 62.3% to 21.7% on the few flights it is still operating.

"The financial outlook continues to be very bleak for the coming few months at least," the airline said.

Chief customer and commercial officer Ronald Lam said it expects no improvement on the average 500 passengers a day it is currently carrying.

"This is the biggest challenge to aviation we have ever witnessed. We are evaluating all aspects of our business to ensure that we remain strong and competitive when we emerge from this crisis," Lam said.

Cathay Pacific and Cathay Dragon made an unaudited loss of HK$4.5 billion.

Cathay is arguably in a good position to recover quicker than most global airlines as the Greater China travel market makes small steps toward a fully recovery, however the resurgence of pro-democracy protests in Hong Kong recently could jeopardise that.

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