ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Cathay Pacific records $783m loss amid grim outlook

Hong Kong airline group warns COVID controls will keep most flights grounded

Higher cargo revenues helped Cathay cut its 2021 annual loss.  

HONG KONG -- Hong Kong flagship carrier Cathay Pacific Airways on Wednesday said its net loss for 2021 reached nearly $800 million as it warned that its operations would remain largely grounded amid the city's worst COVID-19 outbreak yet.

The carrier's net annual loss of 6.12 billion Hong Kong dollars ($783 million) attributable to ordinary shareholders was much improved from its HK$21.8 billion deficit in 2020, due in part to strong cargo demand. Total revenue, however, slipped 2.9% to HK$45.58 billion.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more