Plunging Yields Lead Cathay Pacific To Its First Loss In 35 Years
Cathay Pacific lost HK$542 million (US$70 million) in 1998, as lower yields on regional and transcontinental routes depressed revenue and forced the airline's first deficit since 1963. Revenue dropped 12.9% to HK$26.7 billion ($3.4 billion). "Widespread economic weakness saw reductions in both...
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