default_image
© Khunaspix Dreamstime.

Cathay Pacific Airways, Asia’s biggest international airline, reported first-half profit that missed analyst estimates after posting losses from jet-fuel hedges and passenger yields declined amid competition with Chinese carriers. Shares fell the most in a year.

Net income in the six months through June fell 82% to HK$353 million (US$45.5 million), Cathay said in a statement yesterday. That fell short of the HK$1.07 billion median estimate in a Bloomberg News survey of four analysts. Sales declined 9.3% to HK$45.7 billion.

Cathay Chief ...

Please Register

To continue reading, please login or register for full access to our free content
Loadstar subscriber
New Loadstar subscriber REGISTER

Comment on this article


You must be logged in to post a comment.

    Topics