Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
Cathay Pacific 1H Profit Plummets 133%  
User currently offlineZKOJH From China, joined Sep 2004, 1867 posts, RR: 1
Posted (3 years 9 months 3 weeks 6 days 5 hours ago) and read 2585 times:

It seems no-one is safe ;

Cathay Pacific plunged to a first half loss of US$120 million as the carrier was buffeted by high fuel prices, falling passenger yields and weak air cargo demand.

Profits from associated companies, including Air China, also showed a marked decline, Cathay said in its interim results statement released today.

The loss of $120 million for the first six months of 2012 was down 133 percent compared to the profit of $362 million in the first half of 2011. Turnover for the period rose by 4.4 percent to $6.3 billion.

The group's cargo business was affected by continued weak demand in major markets. Cargo revenue for the first half of 2012 was down by 7.6 percent to $1.5 billion compared to the same period in 2011. Yield was down by 0.4 percent.

Capacity was down by 4.3 percent, while the load factor was down by 4.1 percentage points to 64.3 percent. Demand for shipments from the group's two key markets, Hong Kong and Mainland China, was well below expectations, though the introduction of new hi-tech consumer electronics products in March resulted in a temporary improvement.

Vietnam time..
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
Cathay Pacific Profit Almost $1bln posted Tue Mar 9 2004 07:11:39 by Calvin99
Cathay Pacific Posts HK$1.4b Profit First Half posted Wed Aug 7 2002 11:19:07 by B-HXB
Cathay Pacific Announces Net Profit Of US$84.2 Mil posted Wed Mar 6 2002 06:07:46 by Tesna
Cathay Pacific Profit Announcement posted Wed Mar 8 2000 12:59:20 by Ashford747
Cathay Pacific To Order 26 A350-1000 posted Tue Jul 10 2012 04:03:44 by flythere
Cathay Pacific LAX Late Night Flights posted Wed May 23 2012 01:01:06 by speedbird0125
Cathay Pacific Heathrow Crew Base posted Mon May 21 2012 14:32:44 by sq_ek_freak
Cathay Pacific New Premium Y And Y (pics) posted Mon Feb 27 2012 14:57:33 by alaskaqantas
6 More A359 For Cathay Pacific posted Thu Jan 19 2012 23:52:27 by cloudyapple
Cathay Pacific Cargo 748F Code? posted Sun Jan 1 2012 18:03:12 by gdg9