FLYING LOW: Cathay Pacific Airways Ltd., Hong Kong's biggest airline, posted its biggest first-half loss in a decade because of high fuel prices, the global economic slump and weak air cargo demand.

EURO TURBULENCE: The company said Europe's economic instability was having a big effect on its passenger and cargo services, while revenue from many other international routes was also under pressure.

WING AND A PRAYER: The airline warned in May that first half results would disappoint and that it would freeze hiring and give cabin crew unpaid leave.