Cathay Pacific Airways reported a record annual loss of HK$21.65 billion in the wake of the coronavirus disease pandemic, restructuring costs and writedowns of HK$2.8 billion related to 34 aircraft that are unlikely to re-enter service again. In December, the airline warned that second-half loss would be "significantly higher" than the first half loss of HK$9.87 billion. In the first half, the loss was HK$9.86 billion, compared with a 2019 second half: profit of HK$344 million. Cathay Pacific and Cathay Dragon reported an attributable loss of HK$10.03 billion in the second half of 2020, compared with a 2020 first half loss of HK$7.36 billion, and 2019 second half loss of HK$434 million. Cathay Pacific Airways and Cathay Dragon full year loss was HK$12.62 billion, compared with a profit of HK$511 million in 2019.

Source: The Standard March 10, 2021 04:18 UTC