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Hong Kong carrier Cathay Pacific swings to $74mn loss

Hong Kong carrier Cathay Pacific swings to $74mn loss

Wednesday, March 15, 2017, 11:28 AM

Hong Kong's troubled flagship airline Cathay Pacific swung to a USD 74 million loss in 2016, the firm said today, citing "intense competition" from rival carriers. Low-cost carriers from mainland China ate into Cathay's market share and demand from business passengers fell as the firm prepares a wholesale review of its operations.
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