Airlines

Cathay Pacific on turnaround path after annual loss below expectations

6 monthes ago   |   By

Cathay Pacific posted a smaller than expected annual loss due to a rebound in the cargo market, moderating ticket price falls and lower fuel hedging losses, prompting analysts to call that the worst was over for the Hong Kong airline.
Poor hedging bets on fuel prices and fierce competition from mainland Chinese and Middle Eastern rivals have hurt Cathay, pushing it into losses for the past two years and forcing the airline to undertake a three-year turnaround program targeting HK$4 billion in savings.
While analysts said it was still too early to say whether the efforts under Chief...
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