Cathay Pacific to burn cash as crew quarantine rules bite

:Hong Kong's Cathay Pacific Airways Ltd said on Monday that it expected to resume burning cash because of stricter crew quarantine measures after flagging a surprise profit in the second half of 2021 due to cost cuts and a strong cargo market.

The full-year forecast was also narrower than the first-half loss of HK$7.57 billion, with Cathay pointing to positive cashflow generation in the second half. Cathay is operating about 2per cent of its pre-pandemic passenger capacity and about 20per cent of its pre-pandemic cargo capacity in January. The schedules listed on Cathay's website for February and March appear about as light as January, with only a handful of flights per month to destinations such as London, Sydney and Tokyo that had multiple daily flights before the pandemic. Flights to mainland China are less affected.

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