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Cathay Pacific Airways Limited (CPCAY)

Other OTC - Other OTC Delayed Price. Currency in USD
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4.7500-0.0400 (-0.84%)
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Neutralpattern detected
Previous Close4.7900
Open4.6800
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range4.6100 - 4.7500
52 Week Range3.2500 - 6.6100
Volume15,575
Avg. Volume23,367
Market Cap5.977B
Beta (5Y Monthly)1.29
PE Ratio (TTM)55.88
EPS (TTM)0.0850
Earnings DateN/A
Forward Dividend & Yield0.50 (10.50%)
Ex-Dividend DateAug 12, 2020
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Flight attendants laid off during pandemic find new career as high-flyers in Hong Kong's booming insurance industry
    South China Morning Post

    Flight attendants laid off during pandemic find new career as high-flyers in Hong Kong's booming insurance industry

    For many former Hong Kong flight attendants who were laid off as Covid-19 brought the airline industry to a standstill, the start of the Year of the Ox has been very different to what they are used to during the annual festive period. Because Lunar New Year is typically the peak season for air travel in China, they would usually be busy serving passengers meals and drinks at about 40,000 feet. But as the Year of the Ox gets under way many former cabin crew now have their feet firmly on the ground, having reinvented themselves as high-flyers in a very different arena - insurance sales. Their training and skills have proved a perfect match for the city's insurance giants, who have been busily recruiting as the industry ploughs unscathed through the turbulence of the pandemic. Many have found themselves far better off financially too. Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. Hong Kong's flagship carrier, Cathay Pacific Airways, axed more than 5,000 jobs in the city and completely shut down its regional airline, Cathay Dragon, in October after the Covid-19 pandemic crippled the global aviation industry. That contributed to a surge in Hong Kong's unemployment rate to a 16-year high of 6.6 per cent, with 250,000 people out of work as the fourth wave of the coronavirus sent the city spiralling into its worst recession on record. However, some were quick to find new jobs as several major insurers such as Prudential, Manulife and AIA began snapping up flight attendants and ground crew because of their hospitality training and experience in dealing face-to-face with customers. Prudential had hired more than 60 people from the aviation industry, plus 130 from the hospitality industry - also ravaged by the coronavirus-related travel restrictions - as of December, company data showed. Yuko Wong Yuk-sin, a 23-year old former Cathay Dragon flight attendant, joined Prudential as a salesperson in the middle of last year when the pandemic had led the airline to cut its flights substantially. She is now making three or four times more money than she was before. "I joined the airline industry as I wanted to travel, but eventually I found there was not much time for me on the ground to do sightseeing," Wong said. "Now I can afford to travel with my family at my own cost. I also have a clearer career path at Prudential, which gives me a lot of training." Cathay Pacific Airways and Cathay Dragon aeroplanes at the Hong Kong International Airport, Chek Lap Kok. Photo: Sam Tsang alt=Cathay Pacific Airways and Cathay Dragon aeroplanes at the Hong Kong International Airport, Chek Lap Kok. Photo: Sam Tsang Wong is one of many who has had to change career as the airline, hospitality and tourism sectors were battered by the pandemic ensuing economic crisis. Insurance companies have been able to absorb some of them as the industry has remained resilient. The total revenue from all life insurance and pension business in Hong Kong rose 5.1 per cent year on year in the first three-quarters of 2020 to HK$412.7 billion (US$53.25 billion), according to data from the Insurance Authority. Insurers have been dramatically upping their headcounts of sales agents to prepare for the opening up of the Greater Bay Area, confident it will generate new business in the long term. Manulife has been aggressively recruiting former flight attendants. Cathy Lai worked as a flight attendant at Cathay Dragon for more than three years before joining Manulife as a financial planning manager last year. "Since the pandemic outbreak, my work was significantly reduced to one or two flights per month. This prompted me to consider leaving the industry for one with more promising prospects," she said. "My previous experience as a flight attendant has helped me adapt to my new role as a professional insurance agent. Skills such as listening to customers' needs, communications and teamwork apply very well in my current role." She has been with Manulife for more than six months now, and should be able to achieve her first Million Dollar Round Table (MDRT) qualification this year. The MDRT is for agents who achieve over HK$1.6 million (US$206,000) in sales in a year. AIA, the largest life insurer in the city, saw more than a five-fold increase in recruitment from the airline industry last year. In the fourth quarter of 2020, over 40 per cent of its new recruits were from the banking, hotel and tourism industry. "Flight attendants are comfortable and experienced in interacting with people from diverse backgrounds and cultures, and in meeting their needs efficiently," said an AIA spokesman. "Excellent communication and interpersonal skills, as well as a professional appearance, are also prerequisites for flight attendants." Chu Kin-lun, a former fight attendant who joined AIA in 2015, was promoted to the position of "agency leader" in 2019. "The skill set I learned while working as a flight attendant, such as problem-solving, resilience and a positive attitude, has helped me a lot in the insurance industry and under the current pandemic situation," he said. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2021 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2021. South China Morning Post Publishers Ltd. All rights reserved.

  • Cathay Pacific sells convertible bonds to buttress finances as air travel remains in the doldrums amid lingering Covid-19 pandemic
    South China Morning Post

    Cathay Pacific sells convertible bonds to buttress finances as air travel remains in the doldrums amid lingering Covid-19 pandemic

    Cathay Pacific Airways is planning one of its biggest bond sales to buttress its finances as Hong Kong's hometown airline struggles to ride out the travel slump forced by the global coronavirus pandemic. The HK$6.74 billion (US$869 million) five-year convertible bonds maturing in February 2026 will be offered at par with a coupon of 2.75 per cent, the top end of the marketing range of 2.25 per cent and 2.75 per cent payable twice a year, according to people familiar with the transaction. The bonds can be converted into the airline's Hong Kong-traded shares, at a premium of 30 per cent over the reference price of HK$6.59 per share. The bonds were marketed at a premium between 30 per cent and 40 per cent. Cathay Pacific sold an additional US$155 million of the bond above the base size of the deal. BNP Paribas, BOC International, HSBC and Morgan Stanley are working on the deal. Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. The convertible bond marks another attempt to shore up its finances after an abrupt 27 per cent increase in its monthly cash burn to HK$1.9 billion, as the global coronavirus pandemic drags on and adds to the worldwide slump in travel demand. Proceeds from the debt sale will be used for general corporate purposes, Cathay Pacific said in a stock exchange filing on Wednesday without providing details. Cathay Pacific, which shut its Cathay Dragon unit last year and made 5,900 jobs redundant to save HK$500 million every month, said on Monday it may have to axe a quarter of its profitable cargo capacity because a 14-day quarantine and seven-day medical surveillance proposed by Hong Kong's government would force it to cut its flight capacity by almost two-thirds. Long-haul routes form most Cathay's passenger and cargo capacity, and any cutback on flights would mean a significant loss in revenue. Aircrew arrive at the Hong Kong International Airport, Chek Lap Kok, after a ban on all passenger flights from Britain in bid to stop mutated strain of Covid-19 from reaching the city on December 22, 2020. Photo: Nora Tam alt=Aircrew arrive at the Hong Kong International Airport, Chek Lap Kok, after a ban on all passenger flights from Britain in bid to stop mutated strain of Covid-19 from reaching the city on December 22, 2020. Photo: Nora Tam Cathay Pacific raised HK$39 billion last year, with a HK$27.3 billion financial lifeline by Hong Kong's government, to survive the pandemic. It was the biggest corporate bailout by Hong Kong's government in two decades, giving Cathay Pacific roughly 15 months of cash burn, according to calculations by analysts at the time. A convertible bond was mooted at the tail of the rights issue, but was ultimately rejected because it would create too large of a stock overhang, people familiar with the transaction said at the time. A government backed rescue for Singapore Airlines did include convertible bonds. The return to the convertible bond underscores the continued deterioration of the global aviation industry. One of the largest fleet operators in Asia, Cathay Pacific flew 1,290 passengers every day according to its December report, and its indication of how full its planes were fell to a record low of 18.4 per cent. Cathay Pacific's operations remain in constant flux given the travel restrictions and health requirements in its key markets, such as Britain and Australia, and face further tightening at home because of mutant strains of the coronavirus. Through most of last year, the airline maintained a skeletal flight schedule reflective of severely depressed demand amid ongoing border closures and travel restrictions around the world. Last month, the airline said it was expecting to lose even more money than it did in the first half of last year. Cathay lost HK$9.87 billion between January and June 2020. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2021 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2021. South China Morning Post Publishers Ltd. All rights reserved.

  • Reuters

    FedEx to relocate Hong Kong-based pilots to San Francisco to avoid quarantine-memo

    Freight carrier FedEx Corp will temporarily relocate its Hong Kong-based pilots to San Francisco because it expects the Asian financial capital to establish strict 14-day hotel quarantine requirements for crew, it said in a memo to pilots. The company said it did not think it was appropriate to subject Hong Kong-based crew members to extended periods of isolation, preventing them from seeing their families after finishing a trip. "While we don't know what the rule will state, when it will precisely take effect, or how long it will last, we do not want unknowns to prevent us from taking action on what we understand may likely occur," FedEx System Chief Pilot Robin Sebasco said in the memo seen by Reuters, which was first reported by the South China Morning Post on Thursday.