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Cathay Sees ‘Bright Light’ at End of Tunnel as Travel Comes Back

  • Return to pre-pandemic capacity still more than a year away
  • HK Express unit expected to recover faster, by March next year
Travelers line up to board a Cathay Pacific Airways Ltd. flight at Hong Kong International Airport, earlier in November. 
Travelers line up to board a Cathay Pacific Airways Ltd. flight at Hong Kong International Airport, earlier in November. Photographer: Lam Yik/Bloomberg
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Cathay Pacific Airways Ltd. said its available liquidity rose about 7% in the four months through October to HK$28.6 billion ($3.7 billion) as international travel started returning to Hong Kong.

The airline has secured funding from a range of capital markets and is focusing on preserving cash and optimizing costs, it said in a presentation to analysts Friday, adding that it has been generating cash at an operating level since May. Cathay has said it expects that trend to continue through the second half.