ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Transportation

Cathay Pacific sees 'incredibly challenging year' from coronavirus

2019 results top bearish forecasts despite Hong Kong protests

HONG KONG -- Cathay Pacific Airways has beaten analysts' bearish expectations by posting a net profit of 1.69 billion Hong Kong dollars ($217.5 million) for 2019 despite headwinds from prolonged social unrest in its home market of Hong Kong and the U.S.-China trade war.

Chairman Patrick Healy, however, said he expects Cathay will "incur a substantial loss" in the first half of 2020 under pressure from the new coronavirus outbreak, which has led it to slash three-quarters of its passenger flights for March and April. He said the airline will further adjust schedules "week-to-week... [to] make agile decisions."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more