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Cathay Pacific to post narrower-than-expected 2021 annual loss -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Cathay Pacific signs are seen at Cathay City, Hong Kong (China), October 21, 2020. REUTERS/Lam Yik

(Reuters) – Hong Kong’s Cathay Pacific Airways (OTC:) Ltd said on Monday it expected to post a narrower-than-expected HK$5.6 billion ($719.05 million) to HK$6.1 billion annual loss for 2021 but cash burn was now rising due to stricter quarantine measures.

This forecast loss compares with 12 Refinitiv analysts’ average estimate of HK$10.2 trillion and an even larger loss for 2020, which included restructuring and aircraft impairments.

($1 = 7.7880 Hong Kong dollars)

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