© Reuters. FILE PHOTO: A sign of Cathay Pacific is seen at its headquarters Cathay City in Hong Kong, China October 21, 2020. REUTERS/Lam Yik/File Photo

(Reuters) – Hong Kong’s Cathay Pacific Airways (OTC:) Ltd expects to report a lower first-half loss than last year, driven by strong cargo performance and cost-cutting, the airline said on Tuesday, but warned that this year’s loss would still be “substantial”.

Last year’s first-half loss was HK$7.57 billion ($964.34 million).

($1=7.8499 Hong Kong dollars)

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