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Cathay Pacific 'rebuilding' after third straight annual loss

Hong Kong flagship carrier CEO optimistic on travel demand and recovery

The Hong Kong airline has scrambled to hire back employees as demand rises. (Photo by Konosuke Urata)

HONG KONG -- Hong Kong's Cathay Pacific Group said it was "rebuilding" after announcing a third consecutive full-year loss as the city reopens after harsh travel restrictions were scrapped.

The airline group extended its net loss to 6.5 billion Hong Kong dollars ($834.4 million) for 2022 -- more than the HK$5.52 billion loss over the same period the previous year. But the company reported a marked improvement in the second half of the year, with the city's flagship airline Cathay Pacific recording a positive cash flow of HK$2.96 billion as travel demand resumed.

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