Sign up to receive our personalized investment offer.

Cathay Pacific Airways posted its first annual profit since 2019

Cathay Pacific Airways posted its first annual profit since 2019, fueled by a rebound in travel demand as China fully reopened its borders. Hong Kong’s flag carrier reported net profit of 9.79 billion Hong Kong dollars (US$1.25 billion) in 2023, compared with a net loss of HK$6.62 billion in 2022. The result, which included a HK$1.9 billion noncash gain from diluting its interest in Air China, beat the HK$8.90 billion profit expected in a FactSet poll of analysts. Cathay’s net profit in the second half of 2023 was HK$5.52 billion, compared with a loss of HK$1.55 billion a year earlier and a net profit of HK$4.27 billion in the first half.

Payments

Social

download Telegram logo twitter2

Sign up to receive a personalized investment offer.