Cathay Pacific Airways posts record losses for 2020
Covid-19 pandemic scars Hong Kong airline
HONG KONG: Cathay Pacific Airways on Wednesday revealed record losses of HK$21.6 billion (US$2.8 billion) in 2020, a year blighted by the Covid-19 pandemic – the worst crisis in commercial aviation history.
The Hong Kong flag carrier’s annual financial performance sank even lower than predicted, as it posted one of the biggest losses for a city-listed company since the public health crisis emerged more than a year ago.
Losses in the second half of 2020 increased to HK$11.8 billion, up from HK$9.9 billion in the first…
