Cathay Pacific Airways, Hong Kong’s flag carrier, expects its company finance could be improved as its cash burn will dip below HK$ 1 billion ($128.84 million) each month in the second half of the year. The struggling airline has burned up to HK$1.9 billion per month in the first half of the year because of the crew quarantine policies. The airline has forecasted the quarantine cost will decrease in the second half of 2021 as rules will be eased for…
With no end in sight for the pandemic, Hong Kong Airlines is planning to slash one thousand employees, about half of its workforce, and ground its 12 Airbus A320 jets for one year, according to local media. In addition, according to SCMP, the airline said it had been severely affected…
Looking for a lifeline in the sea of turmoil seems like a reach for cash strapped Hong Kong Airlines but talks are in the cards for the carrier to find a new home. According to the South China Morning Post, the airline is in talks with Air China for the…
Amid the coronavirus outbreak, Hainan provincial official authorities have been named to be on a committee at the HNA Group, the parent group of Hainan Airlines and Hong Kong Airlines. HNA Group admitted its financial difficulties and requested assistance from the government. Earlier, it was widely rumored that stated-owned China…
Hong Kong’s aviation industry has paid the price for the recent social unrest in the region. Hong Kong Airport recorded 71.5 million passengers last year, a 4.2 percent decrease compared to the prior year. Meanwhile, total cargo declined 6.1 percent year-over-year. The passenger volume of the airport is facing its…
The government of Hong Kong on Monday presented struggling carrier Hong Kong Airlines with an ultimatum: Find the money to pay its employees by Dec. 7 or risk having its operating license suspended or even revoked. The next day, the airline's chief executive officer released a statement vowing to take…
Hong Kong’s Air Transport Licensing Authority (ATLA) has informed Hong Kong Airlines to find increased funding by December 7, otherwise, the carrier's operating license may be revoked. Earlier, the cash-strapped airline failed to pay staff salaries on time, ATLA met with the airline’s management members on November 29 due to…
The continuing political protests in Hong Kong have been cited by Hong Kong Airlines (HKA) as the main reason a significant number of their staff will not be paid on time this month. The South China Morning Post on Thursday reported excerpts of an internal HKA memo which stated: “Hong…
There were mixed signals this week that international tourism to Hong Kong may be seeing demand levels return to normality after almost six months of continuous political unrest. This comes after the number of travelers to the city dropped by as much as 40 percent in the peak month of…
The Hong Kong aviation industry is still reeling from protests that have gripped the city-state all summer. The former British colony is seeing the most critical crisis in decades as according to Hong Kong's Financial Secretary Paul Chan, the number of visitors fell 40 percent from last year. The world's…
