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.
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