Cathay Pacific suffers unexpected loss
March 20, 2017 Category Travel, Weekly
Cathay Pacific Airways unexpectedly posted its second loss in nine years and said the passenger yield on major routes will remain under pressure in 2017, amid a slump in business travel, increasing competition with cheaper Chinese carriers serving mainland routes and the dwindling number of visitors flying into Hong Kong. The carrier’s 2016 loss amounted to HKD575 million, as revenue fell 9% to HKD92.75 billion. Passenger yield was down 9.2% to HKD0.54.
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