Cathay issues positive profit alert
Wednesday, February 20, 2019
Cathay Pacific Airways (0293) has posted a profit alert, saying that it is expected to record a consolidated net profit of approximately HK$2.3 billion for the year ended December 31, 2018.
The local flag carrier booked a net loss for two consecutive years – HK$1.259 billion in 2017 and HK$575 million in 2016.
In a stock exchange filing today, Cathay said its transformation program last year has had a positive impact.
"The passenger business benefited from capacity growth, a focus on customer service and improved revenue management. Load factors were sustained and yield improved despite competitive pressures. The cargo business was strong. Capacity, yield and load factors increased," the carrier said.