Cathay Pacific Sees Higher Profit in H1; June Passenger Count Rises 12%

MT Newswires Live
Jul 22

Cathay Pacific Airways (HKG:0293) expects attributable profit of about HK$6 billion to HK$6.5 billion for the first half, up from about HK$3.7 billion a year earlier, according to a Wednesday Hong Kong bourse filing.

The expected result includes a gain of about HK$1.4 billion from the deemed partial disposal of associates following the dilution of the group's equity interest in Air China.

The airline also cited continued strong demand for Cathay Pacific and Cathay Cargo, improved performance at HK Express, and stronger contributions from associates.

Separately, the airline said it carried about 2.58 million passengers in June, up 12.3% from a year earlier.

Passenger capacity increased 6% year over year to 12.23 billion available seat kilometers.

Cargo carried rose 9.3% to 144.8 million kilograms, while cargo capacity increased 1.3% to 1.24 billion available freight tonne kilometers.

Subsidiary HK Express carried 560,494 passengers in June, down 3.8% from the year-ago period, while passenger capacity fell 7.4% to 1.34 billion available seat kilometers.

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