:Hong Kong's Cathay Pacific Airways on Friday forecast its first half-year profit in three years, buoyed by a strong rebound in travel demand and one-off gain from a stake sale in Air China.The city's flagship carrier had posted record losses for the last three years as it parked much of its fleet during the
:Hong Kong's Cathay Pacific Airways on Friday forecast its first half-year profit in three years, buoyed by a strong rebound in travel demand and one-off gain from a stake sale in Air China.
That is turning around on the back of a meteoric jump in travel amid"considerable demand" to and from Mainland China, while high ticket prices and an increase in the frequency of flights to popular destinations also support the recovery. Shares of the carrier were trading 0.5 per cent lower, as of 0222 GMT, while the Hang Seng Composite Index was down 1.6 per cent.
"The Cathay Group has seen a strong rebound in the performance of our airlines our cash flow has continued to improve," the airline said in a statement, adding that the group had been operating cash-generative so far in 2023.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cathay Pacific expects profit for first half of 2023 as demand rebounds:Cathay Pacific Airways forecast a consolidated profit for the first half of 2023 on Friday, after multiple years of pandemic-related border closures and strict quarantine measures.Hong Kong's flagship carrier parked much of its fleet during the pandemic due to a lack of demand. The airline was also hit by CO
Read more »
Hong Kong crowds cheer first dragon boat race in yearsThe crowds were able to return to the sands of the main beach in Stanley this year. Read more at straitstimes.com.
Read more »
Survey finds a section of people in Singapore, Hong Kong and Malaysia struggling without financial assistanceKUALA LUMPUR — 40 per cent of people surveyed across Singapore, Hong Kong and Malaysia are not confident that they can manage their finances without additional financial assistance, following the end of Covid-19 financial support from governments and employers amidst rising inflation, according to new research from f
Read more »
Asian Champions League makes full return as prelim, qualifying dates finalisedHONG KONG : Hong Kong Premier League runners-up Lee Man will host Vietnam's Haiphong in the preliminary rounds of the Asian Champions League on Aug. 15 as the continental club championship makes its fully-fledged return after three COVID-disrupted seasons.The meeting between the pair will be the first of
Read more »
Director Stephen Chow announces new film, calls for pretty girls to auditionHONG KONG – Renowned Hong Kong film-maker Stephen Chow made a surprise announcement on his 61st birthday on Thursday, saying he is ready to make a new movie titled Shaolin Women’s Soccer. Chow posted a video on Instagram announcing that he had completed the script for...
Read more »