Swire Pacific posts record loss in first half as Covid-19 chokes aviation, property businesses

Swire Pacific, the single-largest owner of Hong Kong flag carrier Cathay Pacific Airways, fell to its first-ever loss after absorbing substantial blows in the aviation, property and oil-related businesses triggered by the coronavirus pandemic.The group incurred an underlying loss of HK$5.48 billion (US$707 million) for the six months ended June 30, it said in a filing to the Hong Kong stock exchange on Thursday. The figure, which excluded revaluation loss on investment properties, compared with…

Read the original article at South China Morning Post