Cathay Pacific posts record annual loss
Cathay Pacific Airways posted a record annual loss of HK$21.6 billion (US$2.8 billion) in 2020. Although a big loss was inevitable, it was actually worse than expected as second half losses were significantly higher. The Hong Kong flag carrier was forced to pay for large restructuring charges as it shut subsidiary Cathay Dragon and laid off thousands.
The short-term outlook continues to be challenging says Cathay chairman Patrick Healy. The airline has seen a 99% drop in daily passenger numbers.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Airbnb eyes a loyalty program but details remain under wraps
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026