rishaad: cathay pacific is critical for hong kong's future in hong kong is critical for cathay pacific'sre. some would say not opening up, gearing up as quickly is slowing it down? how do you respond? >> it takes time. hong kong open late. there is quite a lot of catch-up to do, but we are making good progress in moving very fast as a city and as a airline. i am very confident given a little bit more time that we will be on par with many other cities and airlines in the world. rishaad: is it redundant, the third one? when does the city become an aviation hub, if ever again? >> i am confident about the future of hong kong as a future international aviation hub. there are two main reasons why i am competent. first, the runway system is up-and-coming and will be fully operational by late 2024 or early 2025, so from a growth potential angle, that unlocks a lot of potential for hong kong. that is on the supply side. on the demand side, i am confident as well because we got now a big market coming in the greater bay area with 18 million population in nine cities in the greater bay area, and ho

it is not only cafe -- cathay pacific's own manpower.ross the whole aviation ecosystem both in hong kong and outside. >> what is the problem? is it hiring staff, staffing levels? give us a sense of that. >> at the end of last year, 2022, we had around 21,000 staff across the whole group. this year we are going to recruit another 3000 people across our whole group. across all types of groups. in general we are making steady and good progress toward our plan. >> have you got enough pilots now and do you have enough cabin crew? those two elements which are quite important. >> we do have enough pilots and cabin crew. the critical path is training our pilots because hong kong faces a unique situation. during the pandemic hong kong was one of the few cities that imposed quarantine on aircrew. because of that we were only able to operate a small percentage of our normal capacity. because of that, her pilots license, many of them have expired. after the opening up, the cancellation of the crew quarantine, we have been scrambling to train our pil

. >> cathay pacific says it sees a good chance of posting a net profit. the ceo told bloomberg the airline is planning to return to pre-pandemic capacity. lam says they have enough pilots and cabin crew as travel picks up with hong kong and mainland china's reopening. >> we see the bright light at the end of the tunnel since late last year, as hong kong opened to international countries. even brighter light in quarter one this year when hong kong opened with chinese mainland. it's going to be a bit of a tunnel to so go through. we're aiming to rebuild back to 200% pre-pandemic capacity by 2020 for. >> global news 24 hours a day on air and on bloomberg quicktake, powered by 2700 journalists and analysts in more than 120 countries around the world. i'm vonnie quinn. this is bloomberg. haidi: coming up, pimco joins us to review the inflation numbers. the fed gets squeezed between price pressures and the banking sector. this is bloomberg. ♪ >> the data still pointing towards inflationary pressures. >> inflation data is strong enough to have a hike next week.

the way the dollar goes, it will be cathay pacific. 87 minutes before we get those earnings. kong's main airline expecting to swing to operating profit, as it comes out with these 2022 earnings. according to the carrier, it had more than 8100 passengers, nine fold increase compared to last year. big focus in the earnings, the progress it has made cost wise. yvonne: a lot to look ahead at. let's bring in joanna lu. it's great to have you. there is so much to talk about with this pent-up demand, coming from hong kong, china. what are you expecting out of these earnings from cathay? what is the one thing you are looking out for the most? joanna: we -- our data shows that cathay has improved its capacity since last summer. for the whole year, for 2022, the capacity provided was still very volatile and the cumulative capacity was still 72% down, compared to 2019 levels. it marginally improved. however, the accumulated traffic level was about 90% down compared to 2019. also, we noticed that 20% of the fleet is still in storage. the overall picture may still be challenging. a net lo

let's tell you about the big interview we have for the ms ci, on wednesday, the cathay pacific ceo.ook in the recovery for global travel. ♪ avalarahhh ahhh ahhh ahhh what will you do? will you make something better? create something new? our dell technologies advisors can provide you with the tools and expertise you need to bring out the innovator in you. ever better. it's when disruption hits your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management.

cathay pacific will source 50 air buses new york type aircraft.g's main carriers and talks with aircraft lee service to potentially expand. it is said to be looking at the jet market to get airplanes faster. sunak is warning investors and expects a second year of multibillion-dollar losses. the real estate developer predicts a loss of 4.1 billion dollars in 2022 following a record loss of $5.5 billion in the year before that. ever grants up unit has failed to make interest rate payments for the bond issued in 2022. -- 2020. the company says it will actively negotiate with bond holders as soon as possible. haslinda: we are tracking china properties share developers on the back of sunak warning about a second straight year of losses. underscoring the state of developers submitted a record slow down in china. take a look at where block is trading in australia. hindenburg coming into play yet again. the short seller issuing a report election block -- alleging block facilitated fraudsters. other payments providers unscathed. xip --zip up 5% at this tim

bloomberg has learned that cathay pacific is planning to source up to 50 of the a320 -- those are yourrg headlines. let's have a look at futures pointing higher for the final session of the week after a very topsy-turvy thursday session. that is it for daybreak australia, daybreak asia is next. this is bloomberg. ♪ get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside and the other goals along the way wealth plan can help get you there. j.p. morgan wealth management.

shery: still ahead, a preview of cathay pacific earnings that are due out on wednesday as the airlinentinue recovering from the pandemic. up next, more on the fallout from the hawkish day on capitol hill. this is bloomberg. ♪ what does it mean to be ever better? its your customers getting what they ordered when they expect it. discover how ryder ecommerce makes your customer's experience ever better. nothing about the data suggest we tighten. goal. until the job is done. shery: jay powell delivering his hawkish testimony to the senate banking committee. treasury yield topping 2%, the most inverted since 1981. the picture across asia is a little mixed. real estate is gaining ground. energy is pulling the index lower. the asx is lower. the kospi is down more than a percent. the worst day since february. the market reaction across the board in asia. for more, we are joined by kathleen hays. the first question is, how hawkish was the fed chair? kathleen: pretty darn hawkish. it's interesting as much as markets at such a big reaction, it seems to me he has cleared up some questions about h

aia and cathay pacific are also some of the reopening names we are watching in hong kong as well.ad: let's have a look at the first word news. we have been reporting the chinese government is setting its growth target for the year at 5%, the goal set during the national people's congress. it was short of what most economists were expecting. the priority will be boosting domestic spending and business investment, saying the government will work to prevent what it calls the unregulated expansion of the property market. china largely keeping its language regarding taiwan the same, dispiriting the tensions with its island and its ally the u.s. beijing has a goal of peaceful reunification. reports say the government will oppose any efforts to promote taiwanese independence. the biden administration is said to be close to an executive order that will restrict his companies' investments in parts of the chinese economy. some of the restrictive sectors include the parts of the economy that would enhance chinese defense. the u.n. negotiators finalizing a new international agreement expected

bloomberg has learned cathay pacific is planning to source up to 50 airbus type aircraft.ong kong's main carrier is in talks as it seeks to expand following the scrapping of covid curbs in the city. it is said to be looking at a jet market to get planes faster through 2029. apple plans to spend one begin dollars a year to produce movies that will be released in theaters. it is part of an ambitious effort to raise its profile in hollywood and attract subscribers to restraining service. the list of potential releases includes films from directors martin scorsese and ridley scott. accenture is joining a list of companies in a sector -- more than half of the job cuts at accenture will affect people in a non-global corporate functions. futures pointed higher for the u.s. session, right now topix down .4 of 1%. nikkei225 down about .251%. there is a picture of hong kong this morning. plenty more to come on "bloomberg daybreak: asia." this is bloomberg. ♪ i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived tha