Cathay Pacific swings to half-year profit on higher revenue, lower fuel costs

Singapore

HONG Kong's Cathay Pacific Airways Ltd swung to a half-year profit, the first for the January-June period since 2016, as rising passenger revenue and lower fuel costs helped to offset a decline in the air cargo market.

The airline reported a HK$1.347 billion (S$237.73 million) net profit for the six months ended June 30, compared with a HK$263 million loss for the first half of 2018.