<p>Hong Kong's Cathay Pacific Airways Ltd reported on Wednesday a record annual loss of HK$21.65 billion ($2.79 billion), due to a sharp downturn in travel associated with the coronavirus pandemic, restructuring costs and fleet writedowns.</p>.<p>The 2020 loss compared with 2019 profit of HK$1.69 billion and was worse than an average forecast for a net loss of HK$19.9 billion by 13 analysts, according to Refinitiv.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/opinion/cathay-pacific-sees-a-discount-path-to-survival-905058.html" target="_blank">Cathay Pacific sees a discount path to survival</a></strong></p>.<p>Cathay had previously warned it expected the second-half loss to be "significantly higher" than the record first-half loss of HK$9.87 billion.</p>
<p>Hong Kong's Cathay Pacific Airways Ltd reported on Wednesday a record annual loss of HK$21.65 billion ($2.79 billion), due to a sharp downturn in travel associated with the coronavirus pandemic, restructuring costs and fleet writedowns.</p>.<p>The 2020 loss compared with 2019 profit of HK$1.69 billion and was worse than an average forecast for a net loss of HK$19.9 billion by 13 analysts, according to Refinitiv.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/opinion/cathay-pacific-sees-a-discount-path-to-survival-905058.html" target="_blank">Cathay Pacific sees a discount path to survival</a></strong></p>.<p>Cathay had previously warned it expected the second-half loss to be "significantly higher" than the record first-half loss of HK$9.87 billion.</p>