Cathay Pacific Finally Shakes Off Covid With Record Profit
- Operating profit surges to $1.9 billion on high ticket prices
- Airline expects to return to full-Covid capacity in early ‘25
Cathay swung back to a profit on a net basis after three consecutive years of losses.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
Cathay Pacific Airways Ltd. has finally shaken off the lingering effects of the pandemic, reporting a record operating profit.
Operating income more than tripled to HK$15.1 billion ($1.9 billion) in 2023, Hong Kong’s dominant carrier said Wednesday. That beat the previous high of HK$14.1 billion in 2010, though was broadly in line with analyst estimates of HK$15 billion.