Hong Kong’s Cathay Pacific Airways Ltd. said on Monday that it expected to resume burning cash because of stricter crew quarantine measures after flagging a surprise profit in the second half of 2021 due to cost cuts and a strong cargo market.
The airline forecast it would post an annual loss of HK$5.6 billion ($719 million) to HK$6.1 billion ($784 million) for 2021, well below the average HK$10.2 billion ($1.31 billion) estimate from 12 analysts polled by Refinitiv and its HK$21.65 billion ($2.78 billion) loss in 2020.
