Cathay half-year profit misses estimates on fuel-hedging loss

Singapore

CATHAY Pacific Airways Ltd, Asia's biggest international airline, reported first-half profit that missed analyst estimates as losses from hedging fuel masked the gains from carrying more passengers.

Net income in the six months through June fell to HK$353 million (S$61.2 million) from HK$1.97 billion a year earlier, Cathay said on Wednesday. That fell short of the HK$1.07 billion median estimate i…