Cathay Pacific says 'tremendous pressure' on yields as travel demand falls - British Herald
September 22, 2020
Business

Cathay Pacific says ‘tremendous pressure’ on yields as travel demand falls

SINGAPORE (Reuters) – Hong Kong’s Cathay Pacific Airways Ltd said on Thursday that yields, a proxy for airfares, have come under “tremendous pressure” due to declining travel demand, especially to and from long-haul destinations.

“Whilst we have seen solid improvement in the first half driven by a good first quarter, our passenger revenue outlook for the coming few months has shown signs of slowdown,” Cathay Pacific Director, Commercial and Cargo, Ronald Lam said in a statement alongside the airline’s May traffic figures.

(Reporting by Jamie Freed; Editing by Muralikumar Anantharaman)

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