Cathay estimates up to USD52m in cash burn from planned measure to quarantine flight crew

Cathay Pacific Group chief customer and commercial officer Ronald Lam stated (25-Jan-2021) the new measure by the Hong Kong Government requesting Hong Kong based pilots and cabin crew undergo a 14 day quarantine plus seven day medical surveillance will have a "significant impact". He estimates the new measure may result in a reduction of current passenger capacity of around 60%, a reduction of current cargo capacity of around 25% and a further increase in cash burn of around HKD300 million (USD38.7 million) to HKD400 million (USD51.6 million) per month, on top of its current HKD1 billion (USD129 million) to HKD1.5 billion (USD193.5 million) levels. The new measure is expected to come into effect in Feb-2021. [more - original PR]