Cathay Pacific has plunged further into the red for the first half of 2017, and is pinning its hopes on a transformation plan to help counter surging competition. The Hong Kong flag carrier reported a net loss of HKD2.1 billion ($268.2 million) for the six months through June 30, a dramatic reversal from a HKD353 million net profit in the same period last year. The prospect of a full-year loss appears likely, which would be Cathay’s second in a row. The airline’s 2016 full-year ...

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