HK's Cathay Pacific expects up to $576 million first-half profit on strong demand
Cathay Pacific booked record losses the last three years as it parked much of its fleet during the pandemic amid COVID-related flight cancellations and drastic headcount cuts. That is turning around as passengers flock in huge numbers to travel overseas, with Cathay Pacific carrying a total of about 7.82 million passengers in the first-half, compared with a paltry 335,462 last year. Cathay Pacific's shares rose as much as 6.3% after the announcement to their highest in nearly seven months, beating a 0.3% gain for the benchmark Hong Kong index.