Cathay Pacific narrows annual loss on cost cuts, strong cargo demand

Hong Kong's Cathay Pacific Airways posted Wednesday an annual loss of HK$5.5b ($703.45m), narrowing from the prior year's HK$21.65b, thanks to cost-cutting efforts and strong air cargo demand. In January, the airline forecast a 2021 annual loss of HK$5.6b to HK$6.1b after reporting positive cashflow generation in the second half. <br/>