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Hong Kong's Cathay Pacific posts annual record loss of $2.8bn

Airline still in pandemic 'survival mode' and does not rule out further job cuts

Last year was Cathay Pacific Airways' "most challenging 12 months of its more than 70-year history," Chairman Patrick Healy said on Wednesday.   © Reuters

HONG KONG -- Cathay Pacific Airways said on Wednesday that it lost a record $2.8 billion last year because of the coronavirus pandemic, with Hong Kong's flagship carrier especially hard hit because it does not have domestic routes to fall back on, unlike most global peers.

With international borders closed and travel highly restricted, airline travel has been severely disrupted since the outbreak began early last year.

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