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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Cathay Pacific Airways Limited    293   HK0293001514

CATHAY PACIFIC AIRWAYS LIMITED

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Cathay Pacific Airways : Says In August, Cathay Pacific And Cathay Dragon Carried Total Of 35,773 Passengers

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09/14/2020 | 01:14am EDT

Sept 14 (Reuters) - Cathay Pacific Airways Ltd:

* AUGUST CATHAY PACIFIC AND CATHAY DRAGON CARRIED A TOTAL OF 35,773 PASSENGERS, A DECREASE OF 98.8% COMPARED TO AUGUST 2019

* REGIONAL GEOPOLITICAL TENSIONS AND ONGOING CHINA-US TRADE DISPUTE COULD HAVE SIGNIFICANT ADVERSE EFFECT ON AIRFREIGHT DEMAND

* RESTRUCTURING WILL BE "INEVITABLE" TO PROTECT COMPANY

* "WE ARE BURNING CASH AT A RATE OF HK$1.5 BILLION TO HK$2 BILLION PER MONTH"

* ON PASSENGER DEMAND FRONT, STILL HAVEN'T SEEN SIGNS OF IMMEDIATE IMPROVEMENT;

* IN AUGUST CATHAY PACIFIC AND CATHAY DRAGON CARRIED 102,122 TONNES OF CARGO AND MAIL

* WILL CONTINUE TO EXPERIENCE SIGNIFICANT CASH BURN UNTIL MARKET RECOVERS

* REVISED OPERATING PASSENGER FLIGHT CAPACITY DOWN TO ABOUT 10% IN SEPTEMBER AND SIMILAR LEVELS IN OCTOBER

* LOOKING AHEAD, CO CAUTIOUSLY OPTIMISTIC OF "REASONABLY PROMISING" CARGO PEAK SEASON

* COMBINED AUG PASSENGER LOAD FACTOR 19.9%, DOWN 60 PERCENT POINTS

* AUGUST CATHAY PACIFIC AND CATHAY DRAGON CARGO AND MAIL LOAD FACTOR INCREASED BY 14.2 PERCENTAGE POINTS TO 75%

* CATHAY PACIFIC AIRWAYS LTD 122 TONNES OF CARGO AND MAIL LAST MONTH, A DECREASE OF 36.7% Source text for Eikon: Further company coverage:


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Financials
Sales 2020 46 731 M 6 030 M 6 030 M
Net income 2020 -18 490 M -2 386 M -2 386 M
Net Debt 2020 57 119 M 7 370 M 7 370 M
P/E ratio 2020 -1,61x
Yield 2020 0,14%
Capitalization 37 658 M 4 859 M 4 859 M
EV / Sales 2020 2,03x
EV / Sales 2021 1,33x
Nbr of Employees 33 000
Free-Float 17,1%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 6,42 HKD
Last Close Price 5,85 HKD
Spread / Highest target 45,3%
Spread / Average Target 9,77%
Spread / Lowest Target -15,4%
EPS Revisions
Managers
NameTitle
Kin Wing Tang Chief Executive Officer & Executive Director
Patrick Healy Chairman
Gregory Thomas Forrest Hughes COO, Director & Chief Service Delivery Officer
Martin James Murray Chief Financial Officer & Executive Director
Jian Jiang Cai Deputy Chairman
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