Cathay Shares Drop as Profit Slumps 82% on Fuel Hedge LossesBy and
Cathay’s yields under pressure as Chinese carriers expand
Airline didn’t benefit fully from global drop in oil prices
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.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.