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Cathay misses estimates on fuel hedging losses

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.


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 (...

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