Contributed by NAMPA / AFP.
Hong Kong's Cathay Pacific posts HK$1.26 bn loss for 2017
Hong Kong, March 14, 2018 (AFP) - Hong Kong flag carrier Cathay Pacific on Wednesday announced a HK$1.26 billion ($161 million) net loss for 2017, marking the first back-to-back annual loss in its 71-year history.
The company had been hit by intense competition from rival airlines and higher fuel prices, chairman John Slosar said.
It was the biggest annual loss the company has seen in nine years and comes as lower-cost Chinese carri ...