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Analysis: China airfares rebound in potential rehearsal for global recovery reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Cathay Pacific posts record annual loss of $2.8-billion, focuses on preserving cash Jamie Freed Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer ANTHONY WALLACE/AFP/Getty Images Hong Kong’s Cathay Pacific Airways Ltd said on Wednesday it was focused on preserving cash after it posted a record annual loss of HK$21.65 billion ($2.79 billion), caused by a travel downturn, restructuring costs and fleet writedowns. The 2020 loss compared with 2019 profit of HK$1.69 billion and was worse than an average forecast for a net loss of HK$19.9 billion by 13 analysts, according to Refinitiv. ....
3 Min Read (Reuters) - Hainan Airlines Holding Co Ltd, HNA Group’s flagship firm, is operating normally and could draw in new investors despite a bankruptcy filing, embezzlement charges and large asset impairments for the carrier last week, some analysts said. FILE PHOTO: A Hainan Airlines Airbus commercial passenger aircraft is pictured in Colomiers near Toulouse, France, November 26, 2018. REUTERS/Regis Duvignau A strong route network, high brand value and an experienced management team as well as restructuring efforts by China’s No. 4 carrier, were among the reasons cited. HNA units, including the airline, will spend this year negotiating to bring in strategic investors, an HNA Group executive told Reuters. The executive was not authorised to speak publicly on the matter and declined to be identified. ....
January 26, 2021 published at 5:02 AMReuters To limit the spread of Covid-19, the government has discouraged travel in what is normally the busiest time of the year. Reuters BEIJING - Ms Iphie Nie, a 30-year-old designer in Beijing who usually travels to visit family in her hometown of Shenzhen during the Chinese New Year has, like many Chinese, reluctantly decided against booking a flight for the mid-February holiday. To limit the spread of Covid-19, the government has discouraged travel in what is normally the busiest time of the year. Those who are going anyway must present a nucleic acid test with negative results taken in the seven days before returning home. ....