Cathay Pacific and Air Astana announce partnership, boosting links between countries in new Silk Road planThe firm is expected to unveil its latest full-year results on Wednesday. Two analysts the Post spoke to forecast a loss of HK$2.8 billion. Cathay is set to join Thai Airways and Garuda Indonesia as one of a handful of publicly traded airlines in the Asia-Pacific region to lose money this year, as rivals from mainland China, India, Australia and beyond perform strongly. Analysts had forecast last year to be the worst for Cathay as it executed a major restructuring of the business which has so far led to 600 job losses. The changes were supposed to save HK$4 billion. Paul Yong, vice-president of equity research at DBS Bank, said: "The bright spots would be from the cargo business and the contribution from associates like Air China. But we do expect the core business to show a loss. The market will want to see a clearer sign of that turning around."
original article on South China Morning Post. For the latest news from the South China Morning Post download our mobile app. Copyright 2018. More from South China Morning Post: