SINGAPORE: Hong Kong's Cathay Pacific Airways Ltd swung on Wednesday to a half-year profit, the first in the first half of the year since 2016, as rising passenger revenue and lower fuel costs helped to offset a decline in the air cargo market.
The airline reported an HK$1.347 billion ($171.84 million)net profit for the six months ended June 30, compared with an HK$263 million loss for the first half of 2018.
Half-year revenue rose 0.9% to HK$53.55 billion at a time when passenger capacity increased by 6.7%.