(Reuters) – Hong Kong’s Cathay Pacific Airways (OTC:CPCAY) 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 the airline’s larger 2020 loss of HK$21.65 billion that included aircraft impairments and restructuring charges.
($1 = 7.7880 Hong Kong dollars)
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