SINGAPORE - The cost of air tickets between Singapore and Hong Kong jumped within 24 hours of the two places unveiling plans for a travel bubble that wouldn't require people to quarantine upon arrival.
Hong Kong-listed Cathay Pacific Airways closed up 6.1 per cent on Thursday and rose as much as 6.4 per cent on Friday as investors digested the news. The agreement could lift Cathay Pacific's monthly revenue by HK$90 million and reduce cash burn by as much as 6 per cent, according to Bloomberg Intelligence analysts James Teo and Chris Muckensturm, who assume revenue on the Hong Kong-Singapore route amounted to about 3 per cent of Cathay Pacific's total pre-pandemic.
"Although the travel bubble will potentially facilitate increase of services by Cathay Pacific, Singapore and Scoot , demand is expected to remain depressed in the near-term as passenger confidence remains low," said Mr Herman Tse, an analyst with Ascend by Cirium.
Situation in HK is not stable yet...please monitor before opening the gate. Since Christmas is coming...
Opportunity to increase fare, especially business class. In normal days before covid-19, average S$350-$450 for return trip economy class. Let's see.
Once border is opened to HK, we will see more people travelling there. SG should open border to China for tourists. This will definitely revive our SIA and Changi Airport🌈
looked at CX fares a week before x'mas, just for the fun of it. According to flightaware, CX is using B777 and or A330. would prefer to fly on an A350, as it has the state- of-the-art HEPA filters
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