Cathay Pacific reports $74 million net loss in 2016

Credit: Rov Finlayson
Cathay Pacific has blamed increasing competition from direct flights to mainland China as a major factor in its first full-year net loss since 2008. The Hong Kong flag carrier reported a loss of HK575 million ($74 million) for 2016, a dramatic reversal from the HK$6 billion profit it earned in the...

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