Cathay Pacific flags first-half loss of $1.3 bln as travel demand battered
SYDNEY, July 17 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd 0293.HK expects a first-half net loss of HK$9.9 billion ($1.3 billion), including impairment charges on 16 planes, the airline said on Friday, as the coronavirus pandemic crushed travel demand.
Earlier, the airline had flagged a "substantial" first-half loss and that it had burned through cash of HK$2.5 billion to HK$3 billion each month since February.
The first-half loss estimate compares to a profit of HK$1.347 billion profit in the first half of 2019, before widespread anti-government protests and the virus withered demand.
($1=7.7530 Hong Kong dollars)
(Reporting by Jamie Freed; Editing by Clarence Fernandez)
((Jamie.Freed@thomsonreuters.com; +61 2 9171 7143;))
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