Dhaka, Aug. 13 -- Hong Kong based Cathay Pacific does not expect to make a significant recovery in passenger demand for some time due to COVID-19 following the announcement of a record first-half loss, warned the carrier in a statement on August 12.

However, the airline expressed hopes of a brighter cargo market.

The airline said it lost HKD 9.9 billion (USD 1.27 billion) in the first half of 2020, making it the latest major airline to reveal how badly the COVID-19 pandemic has crushed its business.

"The first six months of 2020 were the most challenging that the Cathay Pacific Group has faced in its more than 70-year history," said Patrick Healy, Chairman, Cathay.

"The global health crisis has decimated the travel industry and the fu...