Cathay Pacific shares rise

Singapore

CATHAY Pacific Airways shares rose as much as 6 per cent on Thursday, as analysts said they believed losses had bottomed for the Hong Kong airline after it reported its worst first-half result in at least two decades.

The carrier, in a briefing with analysts on Wednesday, said the corporate travel market was recovering and passenger yields, a proxy for ticket prices, would see a smaller drop in the second half than the 5.2 per cent fall in the first six months.