Cathay Shares Drop as Profit Slumps 82% on Fuel Hedge Losses

  • Cathay’s yields under pressure as Chinese carriers expand
  • Airline didn’t benefit fully from global drop in oil prices

Cathay Pacific 1H Profit Slumps 82%

Cathay Pacific Airways Ltd. reported first-half profit that missed analysts’ estimates as losses from jet-fuel hedges mounted and competition with Chinese carriers cut passenger yields. The shares dropped the most in a year.

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