Revenue up at Cathay Pacific
REVENUE at Hong-Kong based airline Cathay Pacific jumped 15pc to HK$53bn (€6bn) in the six months to June 30.
The group reported a profit of HK$697m (€77m), a swing from a loss of HK$1.7bn in the same period last year.
During the period passenger revenue increased by
10.4pc to HK$35m, while its capacity increased by 3.2pc, the airline, whose
CEO is Rupert Hogg, pictured, said in its interim results yesterday.
The growth reflected the introduction of five new routes, increased frequencies on existing routes, and the use of larger aircraft on popular routes, the airline said.
John Slosar, chairman of the airline, said that the group was half way through a threeyear transition programme.
“The programme, which is designed to make our businesses leaner, more agile and more effective competitors, is on track,” Mr Slosar said. “Despite higher fuel prices, we performed much better in the first half of 2018 than in the first half of 2017.”
In June, Cathay Pacific commenced the first direct flight between Dublin and Hong Kong.