Despite anticipated recovery delays due to staffing constraints, Cathay Pacific has reported a return to profit in the first half of this year. And it will reward its loyal staff for enduring the pandemic with the airline.
The group has created a Special Appreciation Reward for its employees. All employees who had joined the organisation on or before December 31, 2022, will receive two weeks of pay, and those who have participated in a special leave scheme or equivalent, from 2020-2022 and have been continuously employed since then will be eligible for an additional four weeks of pay.
“It has always been our culture to thank our people for the commitment and support they have shown. To this end, I am pleased to announce a Special Appreciation Reward for those who have been with us through the pandemic of up to six weeks of eligible pay, which will be paid in the September payroll,” said CX CEO, Ronald Lam.
“The COVID-19 pandemic was the most challenging period in our history, but with the tremendous support from our people, customers, and other stakeholders, we are moving further and further away from those difficult days with each week that passes. During difficult times, our people have always pulled together to support the Cathay Group. Our solidarity and incredible endurance demonstrated throughout this pandemic have been humbling,” said Lam.
The Cathay Group is expected to record a consolidated profit of about HKD4 billion (R9,2bn) to HKD4,5 billion (R10,4bn) for the first half of 2023, compared with a loss of HKD5 billion (R11,5bn) for the first half of 2022.
Cathay Pacific carried a total of 1,5 million passengers in June, an increase of 931,9% over the June 2022 number. Its passenger load factor increased by 20,7 percentage points to 87,7%, while capacity, measured in available seat km (ASK), increased by 379,6% year on year.
