(Reuters) – Hong Kong’s Cathay Pacific Airways (OTC:) Ltd stated on Wednesday it expects second-half outcomes to enhance significantly from the primary half, helped by exceptionally sturdy air cargo demand.

The outlook comes because the airline continues to endure from the COVID-19 pandemic-related journey restrictions, working at solely 10% of the pre-pandemic passenger capability in October and posting a 97.2% decline in passenger numbers from 2019.

“October was more difficult for our passenger enterprise than latest months. Demand for scholar journey, which had been strong over the previous few months, tapered down shortly from early-October,” Chief Buyer and Industrial Officer Ronald Lam stated in a press release.

Nonetheless, a powerful cargo season within the second-half supplied a vibrant spot, Cathay stated, to the extent that the airline achieved near working money break-even for the four-month interval from July to October.

Reopening of Australian borders for vaccinated residents additionally aided the restoration, Cathay stated.

“Now we have already added extra capability and seen a rise in flight bookings,” the corporate stated whereas referring to Australia.

The airline, which had posted https://www.reuters.com/enterprise/aerospace-defense/cathay-pacific-posts-narrower-h1-loss-costs-fall-2021-08-11 a web lack of HK$7.57 billion ($972.01 million) within the first half, nonetheless expects annual loss for 2021 to be substantial.

($1 = 7.7880 Hong Kong {dollars})