You are here

Cathay misses estimates on fuel hedging losses

BT_20150820_DNPROFIT20_1833264.jpg
Last year's sudden plunge in oil prices left several Asian carriers holding bets made when crude oil prices were around US$100 a barrel. Cathay had an unrealised fuel hedging loss of HK$7.42 billion at the end of June.

Beijing

CATHAY Pacific Airways, Asia's largest international airline by passengers, reported net income that lagged behind analyst estimates after it had losses from fuel hedging and passenger yields dropped. Shares extended losses on the results.

Profit jumped to HK$1.97 billion (

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom