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Cathay Pacific posts first loss since 2008 amid rising competition

Cathay is starting a three-year "corporate transformation" programme to improve returns and operational efficiency.


CATHAY Pacific Airways Ltd reported its first loss in eight years and scrapped plans for a second-half dividend after competition from Chinese airlines and losses from fuel hedging dented earnings.

The net loss totalled HK$575 million (S$105 million) in 2016, while sales...

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