Rev­enue up at Cathay Pa­cific

Irish Independent - Business Week - - Front Page -

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.

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