Cathay Pacific Full-Year Profit Rises on Strong Second Half

Cathay Pacific Airways Ltd.’s full-year profit inched higher, defying expectations for a drop, as the carrier benefited from continued strong demand for air travel and robust cargo volumes.

Net income rose 1% in the 12 months ended Dec. 31 to HK$9.9 billion ($1.3 billion) year-on-year, the airline said Wednesday. That was better than analyst estimates of HK$8.1 billion. Sales for the full year were HK$104.4 billion, compared with estimates of HK$103.8 billion.