Cathay Pacific announces interim results

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The Group’s cargo revenue for the first half of 12014 was HK$1,663 million, a rise of 3.4% compared to the same period in the previous year. Yield for Cathay Pacific and Dragonair decreased by 6.9% to HK$2.17. Capacity increased by 10.8%, while the load factor rose by 0.8 percentage points to 63.2%. Over-capacity in the industry remains a major concern and has made it difficult to increase rates. The airlines continued to manage capacity in line with demand in the first half of 2014. More cargo was carried in the bellies of passenger aircraft, reflecting increased use of Boeing 777-300ER aircraft. Its new cargo terminal in Hong Kong is operating smoothly and now provides services for airlines outside the Cathay Pacific Group.