Cathay Pacific Shares Climb on Profit Jump, Growth Plans
Cathay said it was in a strong position to withstand the unexpected shifts in passenger flows and jet fuel prices.
Photographer: Paul Yeung/BloombergCathay Pacific Airways Ltd. shares climbed after the airline posted its biggest profit since 2010 and said passenger capacity will increase 10%, painting a bullish picture for growth even as the Middle East conflict roils the global aviation sector.
Hong Kong’s de-facto flag carrier said net income climbed almost 10% to HK$10.8 billion ($1.4 billion) last year, beating analyst estimates. Revenue surged 12% to a record HK$116.8 billion, also topping estimates.