An aircraft operated by Cathay Pacific Airways Ltd. takes off at Hong Kong International Airport in Hong Kong, China, on Aug 7, 2020. (PHOTO / BLOOMBERG)
Cathay Pacific Airways said on Friday that losses in the first half are expected to be "somewhat" lower than last year, due to cost-saving measures and strong demand for cargo flights.
Crew quarantine measures have eased since mid-April and that helped Cathay operate 24 percent more freighter flights and 18 percent more cargo-only passenger flights in May compared to April, the airline said in a statement.
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While passenger numbers climbed 30 percent in May to 24,006, the airline said they remain 99 percent lower than pre-pandemic levels
"Our losses in the first half of 2021, while still very substantial, are expected to be somewhat lower than the losses reported in both the first and second halves of 2020," the airline said in a statement.
Cathay reported a first-half net loss of HK$9.87 billion (US$1.27 billion) last year and a net loss of HK$11.78 billion in the second half.
Cathay said it is "cautiously" adding more passenger flights and destinations, and plans to operate at around 30 percent of its pre-pandemic passenger capacity by the fourth quarter.
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While passenger numbers climbed 30 percent in May to 24,006, the airline said they remain 99 percent lower than pre-pandemic levels.
Around 90 percent of its pilots and 64 percent of cabin crew in Hong Kong have either booked or received a COVID-19 vaccination, the company added.