Cathay Pacific Airways Limited provided preliminary unaudited consolidated group earnings guidance for the year ended December 31, 2021. For the year, the group expects to record a consolidated loss attributable to shareholders of approximately HKD 5.6 billion to HKD 6.1 billion. While the expected loss is substantial, it compares favourably to the attributable loss to shareholders of HKD 21.6 billion for the year ended December 31, 2020.

The improvement was primarily driven by strong cargo demand, high cargo yield and load factors, together with continued focus on effective cash and cost management. In addition, the full-year 2020 result included the recognition of one-off items such as impairment charges and restructuring, which were significantly reduced in 2021.