14-Mar-2011 1:54 PM

Hong Kong Airlines reports first annual profit in 2010; expected to double in 2011

Hong Kong Airlines Ltd President Yang Jiang Hong the carrier reported a net profit of around HKD110 million (USD14 million) in 2010, its first annual profit (Bloomberg, 14-Mar-2011). This profit result may double that this year, Mr Yang said. Passenger numbers will likely rise to 4 million from more than 2 million. The airline also expects its cargo unit  to account for 30% of revenue this year from 20%, as it expands.