Cathay Pacific Group (CX) reported a net loss of HK$935 million ($120 million) for the first six months of 2012, a steep reversal from the net profit of HK$2.8 billion in the first half of 2011. The Hong Kong-based carrier cited “persistently high price of jet fuel, passenger yields coming under pressure and weak air cargo demand” as the main reasons for the result. Operating revenues rose 4.4% to HK$48.861 billion against an 11.57% increase in operating expenses to HK$49 ...

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