Staff Reporter

Cathay Pacific Airways, Hong Kong’s flagship airline, announced a modest rise in its full-year profit on Wednesday, bolstered by a strong second half fueled by holiday travel demand and lower fuel costs.

For the year ending December 31, the airline recorded a net profit of HK$9.89 billion (approximately $1.27 billion), marking a 1% increase from HK$9.79 billion the previous year. This holiday surge in demand was somewhat offset by the normalization of ticket prices.

The profit included a one-time gain of HK$578 million due to the dilution of its stakes in Air China and Air China Cargo.

Overall revenue for the year climbed 10.5% to HK$104.37 billion, driven by robust cargo demand and enhanced cost efficiencies, although it fell short of the Visible Alpha consensus estimate of HK$104.74 billion.

Looking ahead, Cathay Pacific plans to expand its air travel and cargo capacity by adding over 100 new, fuel-efficient aircraft to its fleet, as stated in their announcement.

The company also declared a second interim dividend of HK$0.49 per ordinary share.