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

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The marquee Hong Kong airline is battling declining passenger yields as travellers switch to Chinese and Middle Eastern airlines that are expanding rapidly in the region.

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