Cathay Pacific Airways warns of harsh outlook as Hong Kong’s flag carrier confirms record HK$9.9 billion loss in first half of 2020 caused by coronavirus crisis

Cathay Pacific Airways has warned worsening economic and geopolitical conditions will continue to weaken passenger demand and harm its cargo business after confirming its largest ever half-year loss of HK$9.9 billion (US$1.3 billion), caused by the Covid-19 pandemic.Hong Kong’s flag carrier on Wednesday said a looming global recession and intensifying diplomatic tensions would lead to a “negative impact” on its operations.“The first six months of 2020 were the most challenging that the Cathay…

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