Cathay Pacific expects first-half profit to jump 75% to HK$6.5 billion
The News
Cathay Pacific Airways expects its first-half net profit to increase by up to 75% to between HK$6 billion and HK$6.5 billion, compared to HK$3.7 billion a year earlier. The growth is attributed to higher passenger and cargo traffic, along with a one-off gain of approximately HK$1.4 billion from the dilution of its stake in Air China. This forecast indicates a strong recovery for the Hong Kong flag carrier amid rising travel demand.
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Profit expected to jump 75% to HK$6.5 billion
Earnings were boosted by a one-off gain of about HK$1.4 billion from the dilution of its interest in Air China.
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Key findings
The profit growth was driven partly by growth in passenger and cargo traffic.
South China Morning Post- Profit expected to jump 75% to HK$6.5 billion
- Driven by growth in passenger and cargo traffic
Plain English
Loaded language removedHong Kong flag carrier Cathay Pacific Airways expects its first-half net profit to increase by as much as 75 per cent to HK$6.5 billion (US$829 million) from HK$3.7 billion a year earlier, driven partly by growth in passenger and cargo traffic.
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Claims
The profit growth was driven partly by growth in passenger and cargo traffic.
South China Morning PostCathay Pacific expects its first-half net profit to jump by as much as 75% to HK$6.5 billion.
South China Morning PostThe previous year's first-half net profit was HK$3.7 billion.
South China Morning PostEarnings were boosted by a one-off gain of about HK$1.4 billion from the dilution of its interest in Air China.
South China Morning PostCathay Pacific expects net profit to range between HK$6 billion and HK$6.5 billion.
South China Morning Post