Cathay Pacific Hasn't Got Enough Seats to Make a Profit: Chart

While Cathay Pacific Airways Ltd. is doing a great job of filling seats, it’s achieving that by selling tickets below cost, according to Bloomberg Gadfly’s David Fickling. That means to turn a profit on ticket sales alone, it has to fill more seats than are available. Making money on catering, assorted fees and investments helps fill the gaps, but the airline, which posted its first annual loss since 2008 on Wednesday, is weighed down by a cost structure with operating expenses above those of the competition.