Connect with us

Business

Cathay Job inevitably removes as headwinds persist, says Jefferies

Published

on


Cathay Pacific planes at Hong Kong airport ahead of profits

Photographer: Paul Yeung / Bloomberg

Cathay Pacific Airways Ltd. will inevitably cut jobs by reshaping its operations to deal with the devastating impact of the coronavirus pandemic, according to Jefferies Hong Kong Ltd.

Cathay’s monthly cash consumption of HK $ 1.5 billion ($ 194 million) to HK $ 2 billion is unlikely to change until travel and quarantine restrictions are relaxed, a writes Jefferies analyst Andrew Lee in a September 14 note. announced in November, he added.

“The new CX would inevitably lead to downsizing,” Lee wrote, referring to the airline’s code.

Hong Kong-based Cathay released August traffic figures on Monday which showed the airline and the Cathay Dragon unit carried just 35,773 passengers during the month, a drop of 98.8% from to the previous year. Customer and Trade Manager Ronald Lam has warned the carrier would not survive if it did not adjust to the new travel market.

Cathay introduced a leave without pay program for staff earlier this year as monthly losses climbed to HK $ 3 billion, and cut wages and closed crew bases overseas . President Patrick Healy said in August that these cost-containment measures would not be enough.

Jefferies lowered its price target to HK $ 6.30 from HK $ 6.40 and maintained its sustaining rating. Cathay has 2 buy recommendations, 10 hold recommendations and 4 sell recommendations among analysts tracked by Bloomberg, with an average price target of HK $ 6.22. The stock closed at HK $ 6.23 on Monday and is down 38% this year.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]

Please disable the ad-blocker on this page to see the content

plus