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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.

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