Cathay Pacific: current conditions “very difficult”; but seeing stabilisation in cargo business
Cathay Pacific CEO, Tony Tyler, stated that current business conditions are “very difficult”, with the CEO adding, “we haven’t yet seen any sign of a recovery”. The carrier is facing a “toxic” combination of low fares, a significant reduction in premium travel, weak cargo load factors, “poor” yields and a negative currency impact, which is making it “more important than ever” for the carrier to protect its cash levels.
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