Cathay Pacific forecasts narrower loss in first half

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Hong Kong’s Cathay Pacific Airways Ltd expects to report a lower first-half loss than last year, driven by strong cargo performance and cost-cutting, the airline said on Tuesday, but warned that this year’s loss would still be “substantial.”

Last year’s first-half loss was HK$7.57 billion ($964.34 million). ($1=7.8499 Hong Kong dollars) (Reporting by Jamie Freed in Sydney; Editing by Clarence Fernandez)