(Reuters) – Hong Kong’s Cathay Pacific Airways Ltd on Wednesday posted a HK$7.57 billion ($972.7 million) first-half loss, narrower than the prior year’s HK$9.87 billion, due to cost-cutting measures and strong air cargo demand.
The net loss for the six months ended June 30 was in line with the company’s guidance that it would be “somewhat” lower than the prior year.
Revenue fell 42.7% to HK$15.85 billion.
($1 = 7.7824 Hong Kong dollars)
(Reporting by Jamie Freed in Sydney; Editing by Edwina Gibbs)
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