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By Reuters Staff
2 Min Read
SYDNEY (Reuters) -Hong Kong’s Cathay Pacific Airways Ltd expects a “significantly higher” second-half loss than its record first-half loss, driven by low demand, restructuring charges and impairments on its fleet of planes, it said on Wednesday.
FILE PHOTO: An aircraft of Cathay Pacific is seen in front of air traffic control tower at the Hong Kong International Airport, Hong Kong, China October 24 2020. REUTERS/Tyrone Siu/File Photo
The airline reported a HK$9.87 billion ($1.27 billion) loss in the first half due to the pandemic. Analysts had on average forecast a full-year loss of HK$18.3 billion before the announcement, according to 13 polled by Refinitiv.
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