Cathay Says Liquidity Healthy, Too Early to Assess Omicron Jolt
- Airline may consider additional financing opportunities
- Hong Kong carrier expects considerably better second half
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Cathay Pacific Airways Ltd. said it’s maintaining a healthy level of liquidity after bringing down cash burn, helped in large part by strong cargo operations while passenger capacity remains restricted by the pandemic.
Ready cash reserves stood at HK$31.7 billion ($4.1 billion) as of Oct. 31, more than twice the level in June last year when Cathay was burning through as much as HK$3 billion a month, the airline said in an update to analysts Wednesday. The business is now at around breakeven, it said.