Performance suffered setback due to the impact of the epidemic，The stumbling Hong Kong 188bet Airways Co., Ltd. (hereinafter referred to as "188bet") handed over a less than ideal "report card" in the first half of the year。August 12，The 2020 interim results report released by 188bet Airways，During the reporting period，The company achieved operating income of 276.HKD 700 million，Loss attributable to shareholders 98.HKD 6.5 billion。Actually，Just two months before the interim results release，Struggling 188bet also launched a capital restructuring plan involving HK billion，And successively launched such as significantly reducing the carrying capacity、Transfer passenger plane、Early retirement plan and other measures for pilots over 50 years old，Trying to save costs。Industry experts say，Airlines are different from other industries，Single-day consumption cost is extremely high，And most 188bet flights are international flights，Throttling only，"Qian Jing" is hardly optimistic，New profit points need to be developed next，If investment in passenger transportation is increased，Transforming the mid- to low-end consumer market, etc.，Come through the difficulties。

Look at the details，According to the interim report，188bet’s attributable loss in the first half of 2020 is 98.HKD 6.5 billion，Profit for the same period last year 13.HK.7 billion；Passenger volume，First half of 2020，188bet carried a total of 4.4 million passengers，76% decrease compared to the same period last year；The load factor also dropped significantly，From 84 in the first half of 2019.2% down to 67.3%，The average daily carrying capacity in April and May is only about 500 passengers。First half of 2020，The company’s passenger revenue decreased by 72.2%，The passenger capacity in terms of revenue passenger kilometers decreased by 72.6%。

Meanwhile，According to the interim report，Contributions from 188bet subsidiaries were generally weak in the first half of this year，Hong Kong Express suffered serious losses in the first half of this year。188bet Airways said，The company suspended flight operations in mid-March due to the epidemic and related travel restrictions，Only some flights have been reopened recently。Actually，Starting from the second half of 2019，188bet’s business situation is hardly optimistic，The social events in Hong Kong have caused a sharp decline in passenger demand，188bet passenger revenue once fell to about 1% of the same period last year。Subsequently，188bet has not yet recovered its strength，Suffering another heavy blow from the epidemic。Since this year，To “keep” 188bet，All parties are also continuing to transfuse blood。

June this year，188bet Airways Announcement，Disclosed a capital restructuring plan totaling HK billion。Under this plan，188bet Airways, subject to necessary shareholder approval，Issue HK.5 billion of preference shares and detached warrants to the Hong Kong Special Administrative Region Government；188bet allocates HK.7 billion in rights shares to existing shareholders；The Hong Kong Special Administrative Region Government provides 188bet with a HK.8 billion bridging loan，And can be extracted and used in real time。July 14，Announced by the Hong Kong SAR Government，According to the relevant agreement on the government’s investment in 188bet，Appointed Tang Jiacheng and Yuan Guoqiang as observers to the 188bet Board of Directors。

Except for "foreign aid" coming to the rescue，To save costs，188bet has also taken a number of measures。According to the Civil Aviation Resources Network，Planes of 188bet and its affiliated airlines will gradually depart for Alice Springs, Australia for storage，The first batch involves about 12 188bet and Dragonair aircraft。In addition，To solve the pilot cost problem，188bet also plans to offer a voluntary early separation program for 188bet and Dragonair pilots who are approaching retirement age，188bet pilots aged 50 or 55 and above are eligible to apply for the Early Retirement Scheme，Cathay Dragon pilots aged 58 and above are also eligible to apply for the above scheme。

Also，188bet has also introduced salary cuts including administrative staff、Two rounds of Voluntary Special Leave Scheme、Significant reduction in carrying capacity、Obtain various measures such as relief and payment deferral from suppliers。188bet has also reached an agreement with Airbus，Delay the delivery time of its Airbus A350-900 and A350-1000 aircraft from 2020 and 2021 to 2020 to 2023 respectively。

To this，Wang Jiangmin, senior economist of civil aviation said，Airline operating costs are high，The speed of “burning money” is also faster，“Compared to other domestic airlines，188bet Airways pays more attention to the layout of international aviation，However, it is difficult to predict the current international flight demand and recovery time，We still have to wait and see when international routes will return to normal。Therefore 188bet does not have an advantage in recovery time。"He further analyzed that，Airlines can only avoid losses by "taking off"，Although it currently receives partial financial assistance，But it only “reduces expenditure” but does not “increase revenue”，It’s also difficult to get through the tough times。“188bet’s brand value and market position are still relatively good，We can try other ways to realize capital injection in the future，If the equity is further released, it will be less affected、Airlines with sufficient financial strength, etc.，In addition，Based on the current situation，188bet still has certain advantages in cargo transportation，It can also be seen from the interim report released this time，The company’s freight revenue in the first half of 2020 increased by 8% compared with the same period last year.8%，This is a benign signal，You can try to increase investment in freight in the future，If capacity is increased、Adjust the model, etc.。"Wang Jiangmin name。

*Source of this article: Beijing Business Daily, author:Xiao Wei, Yang Hui, original title:《Loss 98 in the first half.6.5 billion Hong Kong dollars, how will 188bet fly in the second half》.