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Cathay Pacific posts big loss

Virginia Harrison

Asia business reporter

Cathay Pacific
Getty Images

Cathay Pacific has posted a big loss for the first half of 2017 as passengers opted for mainland Chinese competitors and higher fuel costs took their toll.

The Hong Kong-based airline lost HK$2.05bn ($262m; £203m) in the six months to June, compared with a HK$353m profit a year earlier.

The figures were due out earlier today but did not emerge until after markets closed.

It follows a mixed session for Asian markets. Japan’s Nikkei 225 edged down, while South Korea’s Kospi and Australia’s ASX 200 notched modest gains.