Wednesday, 20 February 2019

2018 was better than expected says Cathay Pacific

The Hong Kong-based Cathay Pacific Airways has confirmed it would post full-year profits for 2018 of about HK$2.3 billion - £225.5 million that's around US $293 million. Which is more than double than most expectations for the airline that is midway through a restructuring programme.  

During 2018, Cathay Pacific said its main passenger business benefited from impressive capacity growth, improved revenue management and yield control. The airline was able to maintain its load factors and improve yields despite the competitive pressures existing in its market place

The Company’s transformation programme has also had a positive impact on the year-end results, the firm said and the news sent its share price soaring as the story broke on Wednesday.