Cathay Pacific Group reports annual loss of $834.42 million for 2022

Cathay Pacific has reported an annual loss of $834.42 million for 2022, wider than previous year’s loss of HK$5.53bn. The airline released its financial statement for 2022 reporting a positive outlook for 2023 with the lifting of quarantine restrictions and opening of the China border. The Group reported marked improvement over the second half of 2022, reporting a profit of HK$2,261. “We were very encouraged to see a bright light at the end of the tunnel in the second half of 2022, and the positive momentum has continued into 2023,” CEO Ronald Lam said in a statement. “After three brutal