"...rumours of our loss have been greatly exaggerated" (with apologies for plagiarising and butchering the original quote)
CX as an airline, lost 1.5Billion in the first half - when you consider the prevailing restrictions and conditions, that is amazing. We made over $2billion second half last year - almost entirely on cargo.
I suspect we were 'profitable' at the operating level from around May. So using back of the envelope maths, I suspect we will make around $5billion or more in the second half at the airline operating level. Now, that will be dragged back down by losses on HKEX, and other 'associates' such that in the second half we might only be slightly profitable at the group level - and obviously a loss for the year overall, at the group level.
But bottom line - CX is a profitable airline again - we will miss out on 10s of billions of dollars in revenue over the next few years as we will be pilot limited in our operations. We might gross 60-70billion next year versus the 120-140 we should turnover given the much higher pax and cargo yields on offer.