Wires

BRIEF-Cathay Pacific Expects H2 Financial Results To Be Significantly Below H1

H1@

Nov 13 (Reuters) - Cathay Pacific Airways Ltd:

* CATHAY PACIFIC AND CATHAY DRAGON CARRIED A TOTAL OF 2,740,830 PASSENGERS IN OCT - A DROP OF 7.1% COMPARED TO OCTOBER 2018

* OCT CATHAY PACIFIC AND CATHAY DRAGON PASSENGER LOAD FACTOR DECREASED BY 4.0 PERCENTAGE POINTS TO 77.6%

* CATHAY PACIFIC AND CATHAY DRAGON CARRIED 183,119 TONNES OF CARGO AND MAIL IN OCT, A DROP OF 4.9%

* IN OCT, CATHAY PACIFIC AND CATHAY DRAGON CARGO AND MAIL LOAD FACTOR FELL BY 2.4 PERCENTAGE POINTS TO 68.0%

* IN OCT MAINLAND CHINA ROUTES FELT SIGNIFICANT PRESSURE WITH WEAK TRAVEL SENTIMENT TO HONG KONG BY MAINLAND TOURISTS

* IN OCT DEMAND FOR PREMIUM CLASS TRAVEL WAS ALSO SLUGGISH WITH PASSENGER VOLUME SEEING A DOUBLE-DIGIT DIP IN OCT

* OVERALL WE FORESEE A CHALLENGING REMAINDER OF 2019 FOR OUR AIRLINES

* EXPECT OUR SECOND-HALF FINANCIAL RESULTS WILL BE SIGNIFICANTLY BELOW THOSE OF FIRST-HALF

* LOOKING AHEAD, ADVANCED BOOKINGS CONTINUE TO SHOW WEAKNESS IN BOTH INBOUND AND OUTBOUND HONG KONG TRAFFIC FOR REST OF 2019

* SO FAR REDUCED PASSENGER FLIGHT CAPACITY AGAINST ORIGINAL SCHEDULE BY 2-4% BETWEEN AUG-OCT, & 6-7% FOR NOV AND DEC

* LOOKING AHEAD, ADVANCED BOOKINGS CONTINUE TO SHOW WEAKNESS IN BOTH INBOUND AND OUTBOUND HONG KONG TRAFFIC FOR REST OF 2019 Source text for Eikon: Further company coverage: