Hong Kong carrier Cathay Pacific swings to US$74mn loss
Cathay Pacific
Hong Kong - AFP
Hong Kong's troubled flagship airline Cathay Pacific swung to a $74 million loss in 2016, the firm said Wednesday, citing "intense competition" from rival carriers.
Low-cost carriers from mainland China ate in to Cathay's market share and demand from business passengers fell as the firm prepares a wholesale review of its operations, said chairman John Slosar, who added that 2017 would be similarly "challenging".
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