Originally Posted by
Numero Crunchero
What's that saying? "Never let the truth get in the way of a good rumour"?
We owe less money today (as of 30Jun22) than we did 3.5 years ago (31Dec18)
Total current and non current liabilities are around $118B vs $126B at the end of 2018.
Net assets are $68B vs $64B at the end of 2018.
So yeah - not sure what the extra $5billion USD loan is referring to? Was there some big loan made in last 2 or so months?
In terms of competition - yeah nah as we say in Australia. ALL airlines are charging like a wounded bull. Not just Cathay - have a look. So for the near term future, ALL airlines are going to be very profitable.
I may be wrong - we may even make a small profit at the group level this year - we will definitely make a decent profit at the Cathay Pacific operating level.
The US$5 billion loan / debt that everyone seem to like to quote is the HK$39 billion line of credit that the government had extended to CX... However, the not too intelligent / very ill informed people on this forum often don't look into the details... That US$5 billion / HK$39 billion dollar loan from.thr government was a line of credit, but CX has actually NOT drawn one cent from that line of credit even thought it was made available and then subsequent extended past the original availability deadline... What people don't seem to get is that, a line of credit NOT used is not debt... It is only debt if CX drawn and taken money out of it.