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Cathay Pacific Airways posts record losses of HK$21.6 billion for 2020, as Covid-19 pandemic scars Hong Kong airline

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 and 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$11.73 billion from the previously…

Source: Cathay Pacific Airways posts record losses of HK$21.6 billion for 2020, as Covid-19 pandemic scars Hong Kong airline

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