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Cathay Pacific revenue up 13.2% in 1H2011

11-Aug-2011 11:38 AM

Cathay Pacific reports (10-Aug-2011) the following consolidated financial/traffic highlights for the 6 months ended Jun-2011:

  • Revenue: USD5,992.4 million, +13.2% year-on-year;
    • Passenger: USD4,069.2 million, +15.9%;
    • Cargo: USD1,648 million, +8.7%;
  • Operating costs: USD5,634 million, +20%;
    • Fuel: USD2,377.4 million, +41%;
  • Operating profit: USD358.3 million, -60.7%;
  • Net profit: USD359.6 million, -58.9%;
  • Passenger numbers: 13.2 million, +1.7%;
  • Passenger load factor: 79.3%, -4.7 ppts;
  • Passenger yield: USD8.36 cents, +11.8%;
  • Cargo volume: 836,000 tonnes, -4.1%;
  • Cargo yield: USD30.99 cents, +7.1%. [more]

*Based on the conversion rate USD1 = HKD7.80844

Cathay: “After an exceptionally strong 2010, in which we made record profits, 2011 is proving to be more challenging. High fuel prices are increasing costs and recovering them through higher tariffs may affect demand. The outlook for the world economy is uncertain and a return to recessionary economic conditions would also affect demand and possibly average price levels. 2010’s strong performance enabled us to rebuild our balance sheet. Our financial position is strong. We remain in a good position to deal with increased operating costs and the economic uncertainty with which we are faced and to reinforce Hong Kong’s position as a leading international aviation hub,” Cathay Pacific Chairman Christopher Pratt. Source: Company statement, 10-Aug-2011.