August 12, 2020

Cathay Pacific reports first-half loss of US$1.27 bn

Hong Kong (AFP) – Hong Kong carrier Cathay Pacific said Wednesday it lost HK$9.9 billion (US$1.27 billion) in the first half of this year, making it the latest major airline to reveal how badly the coronavirus pandemic has eviscerated its business.”The first six months of 2020 were the most challenging that the Cathay Pacific Group has faced in its more than 70-year history,” chairman Patrick Healy said in a stark statement announcing the results.”The global health crisis has decimated the travel industry and the future remains highly uncertain, with most analysts suggesting that it will take …


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