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Troubled Cathay loses HK$2.05 billion in first half 2017

Hong Kong flag carrier Cathay Pacific on Wednesday reported a massive net loss of HK$2.05 billion ($262.07 million) for the first half of the year as the airline struggled with intense competition from rivals. The results, which were worse than analysts predicted, came after Cathay saw its first annual loss in eight years in 2016, as lower cost Chinese carriers eat into its market share.
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