BRIEF-Cathay Pacific Airways posts FY net loss of HK$575 million

March 15 (Reuters) - Cathay Pacific Airways Ltd

* FY revenue HK$92,751 million versus HK$102,342 million a

year ago

* FY net loss HK$575 million versus profit of HK$6 billion

* Full year dividend per share HK$ 0.05

* Expect operating environment in 2017 to remain challenging

* "Strong competition from other airlines and adverse effect

of strength of Hong Kong dollar are expected to continue to put

pressure on yield"

* Cargo market overcapacity is expected to persist

* "Expect to continue to benefit in 2017 from fact that fuel

prices are much lower than their previous high levels, but to a

lesser extent"

* "Air traffic to, from and within Asia-Pacific region is

expected to grow strongly"

* Expect to incur further fuel hedging losses in 2017

* Despite challenges still expect business to grow in

long-term

* "Are starting on a three year programme of corporate

transformation with intention of achieving returns above cost of

capital"

* "Working on operational changes intended to improve

reliability of our schedules"

* Intend to benefit from this growth in Asia-Pacific region

by increasing passenger capacity by 4-5% per annum

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