Cathay Pacific lost more than HK$ 20 billion last year. Is it really just the impact of the epidemic?

On March 10, Cathay Pacific announced its annual results for 2020. According to the announcement, during the reporting period, the Group's profit was HK$ 46.934 billion, down by 56. 1% year-on-year. The loss attributable to shareholders is HK$ 265,438+RMB 0,648 million.

Cathay Pacific, President of Cathay Pacific Dragonair Group, congratulated Cathay Pacific, and 2020 was the most challenging year in its 70-year history. In order to save itself, the company not only announced the capital structure adjustment plan containing HK$ 39 billion in June last year, but also announced the enterprise structure adjustment plan in June 65438+ 10 of the same year.

But many people in the industry are different from many companies that made profits from the epidemic last year. Take Cathay Pacific as an example. Long before the outbreak, the old airline was trapped in internal and external affairs, the decline of broadcasting status and the contraction of international routes all oppressed its living space. (Albert Einstein, a northerner? Exposure (American drama, success) has received government relief, but Cathay Pacific needs to find its own way of survival.

According to this announcement, Cathay Pacific's net loss attributable to shareholders in 2020 will be HK$ 26,543,806 billion, turning from profit to loss. In terms of passenger transport, Guotai Guotai said in a statement that due to the epidemic, passenger transport revenue last year was only 2% to 30% of that in 20 19. Among them, Cathay Pacific Airlines and Cathay Dragonair operated11300 million Hong Kong dollars, a decrease of 84.3% compared with 20 19.

Cathay Pacific said: "Because demand is at an all-time low, the company has greatly reduced passenger flights." For most of 2020, the number of available passengers of Cathay Pacific will remain below 10%, which is 86.9% lower than that in 20 19.

Cathay Pacific also mentioned that although the company's freight business was affected by the reduction in load, the overall performance was still relatively good. In 2020, the freight revenue of Cathay Pacific and Cathay Dragonair will be HK$ 24.573 billion, an increase of 65.438+06.2% compared with 2065.438+09. From the cost point of view, the fuel cost will be 62.8% lower than that of 2065.438+09, and 654.38+08.068 billion Hong Kong dollars.

The analysis of the future of the aviation industry shows that the total number of available passengers in 20021year is expected to be less than 50%. The company will continue to implement cash holding measures and pay reduction measures for senior managers. He added that at present, all Hong Kong staff and many overseas staff have participated in the third special holiday plan in the first half of 200212002, requesting support for more than 80% of the staff.

In fact, in addition to salary reduction, Cathay Pacific has taken many self-help measures, such as reducing capacity and freezing recruitment. Cathay Pacific Group (including Cathay Dragonair) also laid off about 5,900 people, accounting for 17% of all employees of Cathay Pacific Group.