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Cathay Pacific's liquidity strong, Omicron impact unclear

12/01/2021| 8:35:51 PM|

Cathay last week switched some inbound passenger flights for December to cargo.

Hong Kong's Cathay Pacific Airways has maintained a strong liquidity position at a time when the impact of the Omicron variant of COVID-19 on travel demand remains unclear, a senior executive said on Wednesday.

The airline said its liquidity of HK$31.7 billion ($4.07 billion) as of Oct. 31 was only slightly down on HK$32.8 billion at June 30 due largely to a strong performance in the air cargo business.

"It is too early to assess the impact on travel demand," Cathay Chief Customer and Commercial Officer Ronald Lam said of the Omicron variant in an analysts' briefing.

Cathay last month said it expected its second-half results to improve considerably from the first half, though it still forecast a substantial loss for the full year. 

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TAGS: Cathay Pacific | Omicron
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