Cathay Pacific narrows annual loss on cost cuts and strong cargo demand

Hong Kong's Cathay Pacific Airways Ltd posted on Wednesday an annual loss of HK$5.5 bn ($703.45 mn), narrowing from prior year's HK$21.65 bn, thanks to cost-cutting efforts and strong air cargo demand

Hong Kong's Cathay Pacific Airways Ltd posted on Wednesday an annual loss of HK$5.5 billion ($703.45 million), narrowing from the prior year's HK$21.65 billion, thanks to cost-cutting efforts and strong air cargo demand.
 

In January, the airline forecast a 2021 annual loss of HK$5.6 billion to HK$6.1 billion after reporting positive cashflow generation in the second half.
 

($1= HK$7.8186)