Cathay Pacific falls 7% after reporting loss in 2016

Listen to this article

00:00
00:00

Hong Kong flag carrier Cathay Pacific’s shares fell as much as 6.9 per cent after the lunch break on Wednesday as the airline reported its first annual loss since 2008.

Cathay reported a loss of HK$575m ($74m) for 2016 in the face of increased competition from mainland Chinese airlines and falling demand for premium class seats.

The airline’s stock had recovered slightly to trade down 4.5 per cent at HK$11.08 a share, while the benchmark Hang Seng index was flat.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.