Cathay Pacific hopes to be profitable again in 2023, but returning to its pre-pandemic capacity is going to be a challenge, its CEO told CNBC.
However, the airline swung to an annual operating profit of HK$3.5 billion last year — the first since 2019, according to Refinitiv data.
The Hong Kong carrier said in its earnings report last week that due to manpower limits, it will only be able to fully meet pre-pandemic passenger flight capacity by the end of 2024. "Therefore, for a long time we were operating at very low capacity from the pandemic. So much so that the license of many of our pilots actually have expired," he said, adding that the carrier had to allocate time and resources to retrain its pilots.
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