Cathay seeing “continuing and significant” recovery; profitability jumps

Cathay Pacific Group stated it experienced a "continuing and significant" recovery in its core business during 1H2010, following what the carrier labeled as extremely challenging conditions in much of the previous year. The carrier added that the turnaround in business that began in 4Q2009 continued into 2010 and gained momentum, with both the passenger and cargo businesses of Cathay Pacific and Dragonair performing well with revenues continuing to increase despite uncertainty over the stability of the global economy.