Cathay Pacific Posts $2.8 Billion Loss in Toughest Year Ever
Bloomberg 3/10/2021
Cathay Pacific Airways Ltd. reported a net loss of HK$21.65 billion ($2.8 billion) for 2020, a period the carrier described as “the most challenging 12 months of its more than 70-year history” as the coronavirus pandemic brought unprecedented disruption to global air travel.
The outlook isn’t much better, according to Chairman Patrick Healy, who said “it is by no means clear how the pandemic and its impact will develop.” Hong Kong has largely closed its borders to non-residents and imposed 21-day mandatory hotel quarantine on those who return. Cathay expects to operate at well below 50% passenger capacity in 2021.
Cathay Posts Record $2 8 Billion Loss in Toughest Year Ever
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Sorry Steak Lovers, Australia s Running Out of Cows
Bloomberg 3/2/2021
(Bloomberg)
In what would be a blow to steak lovers the world over, Australian beef may slip off global menus if cattle producers Down Under can’t hasten the pace of a nationwide herd rebuild.
With herd sizes near the lowest since the early 1990s, the nation’s beef producers face the possibility of losing their No. 2 exporter position behind Brazil simply because they don’t have the stock available to service a global market as demand picks up steam up post-Covid-19.
The risks of that are growing as some farmers continue to send female cattle to the slaughterhouse instead of keeping them to expand herds. The latest official data show the ratio of female cattle processed as a proportion of total slaughter an indicator for whether a herd is in restocking phase at 48.2%, not enough to qualify for a technical rebuild, classified at 47% and under.