9 Aug 2012

Loss reported by Cathay Pacific

8:53 am on 9 August 2012

Cathay Pacific has posted a net loss for the first half of the year amid higher fuel costs and a drop in demand for corporate travel.

The carrier lost HK$935m ($US120.6 million) for the six months to June.

It had made a profit of HK$2.8bn during the same period last year.

The airline said demand for premium class travel fell during the period "as employees of major corporations started to travel less, in response to economic uncertainty."

Cathay shares traded in Hong Kong fell by more than 7% afterwards.