DUBAI :Cathay Pacific is on track to reach 100 per cent of its pre-pandemic passenger flights by the first quarter of 2025, having reached 80 per cent of capacity within the second quarter of this year, CEO Ronald Lam said on Sunday.
FILE PHOTO: Cathay Pacific Airways Chief Executive Officer Ronald Lam speaks during a news conference on the carrier's annual results in Hong Kong, China March 8, 2023. REUTERS/Lam Yik/File photo
Cathay reported its first annual profit in four years in March, however executives said they expect yields to normalise this year as the post-pandemic global imbalance between supply of flights and travel demand that drove up ticket prices and airline yields diminishes as airlines add capacity. The carrier restored capacity more slowly after the pandemic than its closest rival, Singapore Airlines, because it faced tighter quarantine rules for longer, and needed to hire more staff to bring back services.
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