Cathay Pacific reports record 2010 earnings; announces order for 27 aircraft

Premium Analysis

Cathay Pacific’s full year earnings surged 199% year-on-year in 2010 to HKD14.05 billion (USD1.8 billion). It was the carrier’s best-ever annual profit and exceeded its profit forecast of at least HKD12.5 billion (USD1.6 billion) for 2010. Cathay, following the financial release, also announced plans to acquire 27 Airbus and Boeing aircraft in agreements worth around USD6.55 billion at list prices. Further orders are expected.

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