Topic Author
Posts: 1491
Joined: Mon Sep 13, 2004 9:51 am

Cathay Pacific 1H Profit Plummets 133%

Wed Aug 08, 2012 6:51 am

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..

Popular Searches On Airliners.net

Top Photos of Last:   24 Hours  •  48 Hours  •  7 Days  •  30 Days  •  180 Days  •  365 Days  •  All Time

Military Aircraft Every type from fighters to helicopters from air forces around the globe

Classic Airliners Props and jets from the good old days

Flight Decks Views from inside the cockpit

Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior

Cargo Aircraft Pictures of great freighter aircraft

Government Aircraft Aircraft flying government officials

Helicopters Our large helicopter section. Both military and civil versions

Blimps / Airships Everything from the Goodyear blimp to the Zeppelin

Night Photos Beautiful shots taken while the sun is below the horizon

Accidents Accident, incident and crash related photos

Air to Air Photos taken by airborne photographers of airborne aircraft

Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos