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Cathay Pacific posts biggest loss in nine years, but beats expectations

Reuters  |  SHANGHAI/SINGAPORE 

By Brenda Goh and Jamie FreedSHANGHAI/SINGAPORE (Reuters) - Hong Kong's Cathay Pacific Airways posted its biggest annual loss in nine years, which was slimmer than expected as a rebound in the cargo market helped offset fuel hedging losses and stiff competition for passengers.Cathay reported on Wednesday a net loss of HK$1.26 billion ($160.69 million) for 2017, wider than the prior year's loss of HK$575 million but smaller than an average loss estimate of HK$2.15 billion drawn from 11 analysts polled by Thomson Reuters.It reported an attributable profit of HK$792 million in the second half, ...

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First Published: Wed, March 14 2018. 11:15 IST
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