Hong Kong’s Cathay Pacific Airways Ltd posted on Wednesday an annual loss of HK$5.5 billion ($703.45 million), narrowing from the prior year’s HK$21.65 billion, thanks to cost-cutting efforts and strong air cargo demand.
In January, the airline forecast a 2021 annual loss of HK$5.6 billion to HK$6.1 billion after reporting positive cashflow generation in the second half.
