Cathay Pacific Posts $262M Loss First Half of 2017

Aug. 16, 2017

Cathay Pacific Airways plunged to a loss of HK$2.05 billion (US$262 million) in the first half of this year, dealing a further blow to the Hong Kong flag carrier, which finds itself squeezed by competition for both long-haul and short-haul passengers.

In a filing to the Hong Kong stock exchange on Wednesday, the carrier also revealed its revenue rose by 0.4 per cent to HK$45.85 billion for the six months to June 30.

It is the company’s first interim loss – that is, a loss for the year’s first six months – since 2012.

Read more: http://www.scmp.com/news/hong-kong/economy/article/2107051/hong-kong-airline-cathay-pacific-posts-hk205-billion-loss?utm_source=edm&utm_medium=edm&utm_content=20170816&utm_campaign=city_Wrap&emarsys=1&sc_src=email_1989170&sc_llid=1055&sc_lid=145041663&sc_uid=t8gFKyClUz