Hong Kong's Cathay Pacific warns of capacity cuts, higher cash burn

25/01/2021 7:30:00 PM

Cathay Pacific, Aviation

Hong Kong's Cathay Pacific warns of capacity cuts, higher cash burn

Hong Kong's flagship carrier said the expected move will increase cash burn by about HK$300 million ($38.70 million) to HK$400 million per month, on top of current HK$1 billion to HK$1.5 billion levels.Hong Kong is set to require flight crew entering the Asian financial hub for more than two hours to quarantine in a hotel for two weeks, the South China Morning Post reported last week, citing sources.

"The new measure will have a significant impact on our ability to service our passenger and cargo markets," Cathay said in a statement, adding that expected curbs will also reduce its cargo capacity by 25%.The airline, in an internal memo seen by Reuters, requested for volunteers among its crew who could fly for three weeks, followed by two weeks of quarantine and 14 days free of duty, adding it will be a temporary measure and not all its flight will require such an operation.

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Hong Kong's Cathay Pacific warns of capacity cuts, higher cash burn Cathay Pacific says its cash burn could rise by up to HK$400 million per month, on top of current HK$1-billion to HK$1.5-billion levels, if Hong Kong sets new quarantine measures for flight crew.

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Cathay Pacific Airways Ltd on Monday warned passenger capacity could be cut by about 60% and monthly cash burn may rise if Hong Kong installs new measures that require flight crew to quarantine for two weeks.Jan 25, 2021 8:25 PM PHT Cathay Pacific Airways Ltd on Monday, January 25, warned passenger capacity could be cut by about 60% and monthly cash burn may rise if Hong Kong installs new measures that require flight crew to quarantine for two weeks.Luo Huining, the director at China's Hong Kong Liaison Office, was speaking at a ceremony to mark National Security Education Day, which authorities have organised to promote the sweeping legislation China imposed last year.OVP spox chides Roque anew: It’s admin focusing on politics amid pandemic Since the group of 47 were charged around two weeks ago, the court has heard a series of requests for bail.

Hong Kong's flagship carrier said the expected move will increase cash burn by about HK$300 million ($38.70 million) to HK$400 million per month, on top of current HK$1 billion to HK$1.70 million) to HK$400 million per month, on top of current HK$1-billion to HK$1.5 billion levels. Its supporters say it has restored order following mass anti-government and anti-China protests in 2019. Hong Kong is set to require flight crew entering the Asian financial hub for more than two hours to quarantine in a hotel for two weeks, the South China Morning Post reported last week, citing sources. Hong Kong is set to require flight crew entering the Asian financial hub for more than two hours to quarantine in a hotel for two weeks, the South China Morning Post reported last week, citing sources. "The new measure will have a significant impact on our ability to service our passenger and cargo markets," Cathay said in a statement, adding that expected curbs will also reduce its cargo capacity by 25%. The 47 activists are accused of organising and participating in an unofficial, non-binding primary poll in July 2020 that authorities said was part of a “vicious plot” to “overthrow” the government.

The airline, in an internal memo seen by Reuters, requested for volunteers among its crew who could fly for three weeks, followed by two weeks of quarantine and 14 days free of duty, adding it will be a temporary measure and not all its flight will require such an operation. The airline, in an internal memo seen by Reuters, requested for volunteers among its crew who could fly for 3 weeks, followed by 2 weeks of quarantine and 14 days free of duty, adding it will be a temporary measure and not all its flight will require such an operation. National Security Education Day will be marked with school activities, games and shows, and a parade by police and other services performing the Chinese military's "goose step" march. "We continue to engage with key stakeholders in the Hong Kong Government," the memo said. In an emailed response to Reuters, a Hong Kong government spokesperson said: "In the light of the evolving pandemic situation locally and internationally, the Government will keep reviewing and refining the arrangements applicable to different categories of exempted persons, including air crew, with reference to all relevant considerations. The government did not immediately respond to a request for comment." Separately, a company spokeswoman said the airline could not detail the impact on vaccine transport specifically in terms of cargo shipments. Stickers and bookmarks reading "Uphold National Security, Safeguard our Home" have been delivered to schools and kindergartens. The aviation industry has been hit hard by the COVID-19 pandemic as many countries imposed travel restrictions to contain its spread. The aviation industry has been hit hard by the COVID-19 pandemic as many countries imposed travel restrictions to contain its spread. Hong Kong laws restrict media coverage of the content of bail hearings.

In December, Cathay's passenger numbers fell by 98.7% compared to a year earlier, though cargo carriage was down by a smaller 32.7% compared to a year earlier, though cargo carriage was down by a smaller 32.3%. RELATED VIDEO Watch more in iWantTFC . – Rappler.