11-Jan-2011 9:58 AM

Cathay ends 2010 strongly with revenue 20% ahead of target

Cathay Pacific reportedly stated Dec-2010 revenue was more than 20% ahead of target with the carrier ending 2010 with solid growth (Dow Jones, 10-Jan-2011). The carrier expects to report a record net profit in 2010. CEO Tony Tyler reportedly added that for the week ended 01-Jan-2011, the airline recorded the highest yields on routes to Japan since 2008, supported by strong economy-class revenue. Passenger demand for long-haul routes to the US was also strong during the week with load factors at 99%. The load factor for the airline's cargo operations was more than 75% in 2010, well above the average of recent years.