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Cathay Pacific Airways Ltd., Asia’s largest international airline by passengers, reported profit that beat analyst estimates as growing travel demand outweighed the drag from fuel hedging losses.
Net income jumped 90.5 percent to HK$6 billion ($773 million) last year, Cathay said in a stock exchange statement Wednesday. That compared with the average estimate of HK$5.32 billion by 13 analysts, according to data compiled by Bloomberg. Hedging losses in 2015 widened to HK$8.47 billion from a HK$911 million loss a year ago.