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Hong Kong carrier Cathay Pacific swings to US$74mn loss

AFP  |  Hong Kong 

Hong Kong's troubled flagship airline Cathay Pacific swung to a USD 74 million loss in 2016, the firm said today, citing "intense competition" from rival carriers.

Low-cost carriers from mainland ate in to Cathay's market share and demand from business passengers fell as the firm prepares a wholesale review of its operations, said chairman John Slosar, who added that 2017 would be similarly "challenging".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Hong Kong carrier Cathay Pacific swings to US$74mn loss

Hong Kong's troubled flagship airline Cathay Pacific swung to a USD 74 million loss in 2016, the firm said today, citing "intense competition" from rival carriers. Low-cost carriers from mainland China ate in to Cathay's market share and demand from business passengers fell as the firm prepares a wholesale review of its operations, said chairman John Slosar, who added that 2017 would be similarly "challenging". Hong Kong's troubled flagship airline Cathay Pacific swung to a USD 74 million loss in 2016, the firm said today, citing "intense competition" from rival carriers.

Low-cost carriers from mainland ate in to Cathay's market share and demand from business passengers fell as the firm prepares a wholesale review of its operations, said chairman John Slosar, who added that 2017 would be similarly "challenging".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Hong Kong carrier Cathay Pacific swings to US$74mn loss

Hong Kong's troubled flagship airline Cathay Pacific swung to a USD 74 million loss in 2016, the firm said today, citing "intense competition" from rival carriers.

Low-cost carriers from mainland ate in to Cathay's market share and demand from business passengers fell as the firm prepares a wholesale review of its operations, said chairman John Slosar, who added that 2017 would be similarly "challenging".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22