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    293   HK0293001514

CATHAY PACIFIC AIRWAYS LIMITED

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Delayed Hong Kong Stock Exchange  -  03:08 2022-12-02 am EST
7.770 HKD   -1.77%
11/29Capital A to combine AirAsia and AirAsia X as part of restructuring plan
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11/25Cathay Pacific Airways : Analyst Briefing 25 November 2022
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11/25Transcript : Cathay Pacific Airways Limited, Q3 2022 Earnings Call, Nov 25, 2022
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Cathay Pacific sees cargo demand pick up after Chinese National Day holidays

09/30/2022 | 07:26am EST
FILE PHOTO: Sign of Cathay Pacific is seen at its  headquarters Cathay City in Hong Kong

(Reuters) - Hong Kong's Cathay Pacific Airways expects cargo demand to pick up after Chinese National Day holidays in the first week of October, but warned that it will not be a repeat of the "super-peak" that it recorded last year.

The airline, in its newsletter on Friday, forecast cargo demand to pick up as lifting of COVID-19 curbs in China could mean higher shipping volumes, especially during the year-end holidays -- usually a frantic period for air cargo and shippers.

Cathay Pacific's views come as global trade bellwethers see lower demand as consumers struggle with surging costs of food, fuel, and housing. Earlier this month, FedEx withdrew its forecast based on an acceleration in global demand slowdown.

"The market is finely balanced at the moment, with many intricate interconnected forces at play which are creating a degree of uncertainty as we look ahead," Cathay said in the newsletter.

(Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CATHAY PACIFIC AIRWAYS LIMITED -1.77% 7.77 Delayed Quote.21.60%
FEDEX CORPORATION 0.53% 181.41 Delayed Quote.-29.86%
All news about CATHAY PACIFIC AIRWAYS LIMITED
11/29Capital A to combine AirAsia and AirAsia X as part of restructuring plan
RE
11/25Cathay Pacific Airways : Analyst Briefing 25 November 2022
PU
11/25Transcript : Cathay Pacific Airways Limited, Q3 2022 Earnings Call, Nov 25, 2..
CI
11/24Cathay Pacific in talks on orders for medium-haul jets, freighters
RE
11/24Cathay pacific executive: in talks with manufacturers about ord..
RE
11/24Cathay pacific executive: employee turnover rate has reduced si..
RE
11/24Cathay pacific executive: 2022 cargo peak season will be solid,..
RE
11/21Cathay Pacific to lift staff pay by 3.3%, offer bonus - CEO memo
RE
11/21Cathay pacific to offer average base pay increase of 3.3% to hon…
RE
11/18Cathay Pacific expects annual loss despite second-half improvement
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Financials
Sales 2022 54 777 M 7 037 M 7 037 M
Net income 2022 -4 539 M -583 M -583 M
Net Debt 2022 63 019 M 8 096 M 8 096 M
P/E ratio 2022 -12,0x
Yield 2022 -
Capitalization 50 017 M 6 426 M 6 426 M
EV / Sales 2022 2,06x
EV / Sales 2023 1,24x
Nbr of Employees 20 800
Free-Float 15,0%
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 7,77 HKD
Average target price 9,11 HKD
Spread / Average Target 17,2%
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Managers and Directors
Kin Wing Tang Chief Executive Officer & Executive Director
Rebecca Jane Sharpe Chief Financial Officer & Executive Director
Patrick Healy Chairman
Lawrence Fong Director-Digital & Information Technology
Gregory Thomas Forrest Hughes COO, Director & Chief Service Delivery Officer
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