Cathay Pacific diminished its losses by 34 per cent from HK$7.6 billion to HK$5 billion (approx. €616.5 million) within the first half of 2022, the Hong Kong provider reported on Wednesday.
The provider’s income elevated 17 per cent to HK$18.6 billion in comparison with 2021, largely pushed by a rise in ticket gross sales and chronic robust demand for air cargo. Nonetheless, passenger numbers remained 95.2 per cent beneath pre-pandemic ranges.
Even after an international flight ban was lifted in April and connections between main hubs similar to London recommenced, Cathay chairman Patrick Healy stated the town’s strict quarantine necessities stifled restoration as cabin crew had been additionally topic to the seven-day quarantine interval.
Earlier this week, Hong Kong authorities introduced necessary lodge quarantine for worldwide guests might be diminished from seven to 3 days, and whereas Healy excepts this to “enhance traveller sentiment”, he stated a lingering “bottleneck” will proceed to impede the provider’s restoration.
“Whereas we’re absolutely dedicated to supporting our dwelling metropolis, our potential to function extra flight capability continues to be severely constrained by a bottleneck on crewing assets beneath the present quarantine necessities,” he stated. “We’ll solely be capable of function extra flight capability when the present stringent journey restrictions and quarantine necessities relevant to Hong Kong-based aircrew are lifted.”
He added: “We’re focusing on to progressively improve passenger flight capability as much as 1 / 4 and cargo flight capability to 65 per cent of the pre-pandemic stage by the top of 2022. This provides us confidence that our airways and subsidiaries will see a stronger second-half than first-half efficiency.”
In anticipation of rising international demand and an extra rest of Covid-related restrictions, the provider is returning plane parked abroad to Hong Kong and plans to rent greater than 4,000 frontline workers “to fulfill operational wants” over the subsequent 18-24 months.
Hong Kong’s diminished quarantine measures will come into impact on Friday 12 August, the place inbound travellers might be topic to a “3+4 mannequin”, which incorporates three days of quarantine in a delegated lodge, adopted by a “medical surveillance” interval of 4 days which requires self-monitoring and each day covid-19 testing. Through the medical surveillance interval travellers should not allowed to enter “high-risk premises” that contain group actions or the removing of face masks. “Important actions” similar to travelling on public transport, going to work, or coming into a grocery store are permitted.