It seems pressure may be mounting on Cathay Pacific Airways after analysts in the South China Morning Post described the carrier’s first- half performance as one of “the worst in its operating history”. Estimates are that Cathay is eyeing a HK$1.2bn loss for the six months to June. This will be confirmed when results are released tomorrow. Such a performance continues a bad 12-month run, with full-year 2016 results indicating a HK$575m loss, despite having achieved a HK$353m profit for the six months to June last year. It looks like this will only increase the pressure on the Hong Kong flag-carrier to push through another round of cost cutting, having already trimmed 600 jobs as part of a three-year restructuring plan aimed at saving HK$4bn.
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