Cathay Pacific Airways reported its first full-year net loss in a decade, posting a 2008 deficit of HK$8.56 billion ($1.1 billion), reversed from net income of HK$7.02 billion in 2007. CX said the loss was attributable to shrinking passenger and cargo demand combined with a HK$7.97 billion noncash loss on fuel hedging that was reversed from a hedging gain of HK$933 million in 2007. It noted the "collapse" of the front end of passenger cabins and a "very weak" cargo market. Though fuel prices ...

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