Cathay Pacific is on track to end a three-year streak of annual losses, as the Hong Kong carrier emerges from years of pandemic restrictions that fuelled the exodus of hundreds of pilots and crew.
The Hong Kong flagship carrier posted a HK$4.3bn ($550mn) profit in the first half of the year on Wednesday, up from a HK$5bn loss in the same period last year. The rise came despite a decrease in cargo revenue that had supported the airline’s business during the pandemic.
“We expect to continue to see a solid performance through the rest of the year,” said Cathay chair Patrick Healy at a press conference. “We think that the current performance shows that we are well on the way on our rebuilding journey.”
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