Cathay Pacific profit

Cathay Pacific reported a net profit of HK$3.6 billion for the first half of 2024, down 15% from the previous year, largely due to normalized ticket prices and rising operational costs. Despite this decrease, the airline's revenue grew by 13.8% to HK$49.6 billion, driven by strong passenger demand and a solid cargo business. The airline carried 10.7 million passengers, marking a 36% increase year-on-year, although passenger yields fell by 11%. Cathay's budget arm, HK Express, incurred a loss of HK$73 million amid operational challenges and falling yields. Chairman Patrick Healy announced plans to restore capacity to pre-pandemic levels by early 2025 and confirmed a first interim dividend for shareholders. The airline also announced plans to purchase 30 Airbus A330-900 aircraft, with expected delivery by the end of 2031.