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

Jan 24 (Reuters) – Hong Kong’s Cathay Pacific Airways 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.

The forecast loss compared with the average HK$10.2 billion estimate from 12 analysts polled by Refinitiv and Terbaik sumatera the airline’s larger 2020 loss of HK$21.65 billion that included aircraft impairments and restructuring charges.($1 = 7.7880 Hong Kong dollars) (Reporting by Jamie Freed in Sydney; Editing by Christopher Cushing)