Cathay Pacific returns to profitability on fuel hedging gains, but long recovery ahead
Cathay Pacific posted a 1H2009 net profit of HKD812 million (USD105 million), reversing a net loss of HKD760 million (USD98 million) in the previous corresponding period, although the carrier would have been in the red if not for hedging gains of HKD2.1 billion (USD271 million). The carrier’s operating profit of USD263.6 million also represented a reversal from a loss (of USD90.1 million ) in 1H2008. [1743 words]
Unlock the following content in this report:
- Poor business class demand taking its toll
- Demand remains weak, especially freight, although freight market share retained
- To park a further six passenger aircraft
- Dragonair becomes passenger-only operation
- Air Hong Kong improves profit, other subsidiaries see profit levels slip
- Cathay sees further pressures
Graphs and data:
- Cathay Pacific financial/traffic highlights: six months ended 30-Jun-2009 (USD millions)
- Cathay Pacific and Dragonair capacity, load factor and yield
- Cathay Pacific market performance: 1H2009
Please login to continue reading or find out more about CAPA Membership below.
This content is exclusively for CAPA Membership Subscribers
CAPA Membership gives you the latest aviation news and alerts, access to CAPA articles, reports, and our leading aviation data with optional premium add-ons.