Asia

Cathay Pacific Airways Expects 2018 Profit After Revamp

Cathay Pacific B777
Boeing 777 | Cathay Pacific

The Board of Directors of Cathay Pacific Airways, together with its subsidiaries, informed shareholders of the Company and potential investors that, based on a preliminary review on the unaudited consolidated management accounts of the Group for the year ended 31st December 2018 and the information currently available to the Board, the Group is expected to record a consolidated profit attributable to shareholders of approximately HK$2.3 billion, which compares to an attributable loss to shareholders of HK$1,259 million for the year ended 31st December 2017.

In 2018, the passenger business benefited from capacity growth, a focus on customer service and improved revenue management. Load factors were sustained and yield improved despite competitive pressures. The cargo business was strong. Capacity, yield and load factors increased. The Company’s transformation programme has had a positive impact.

The Company is still in the process of finalizing the Group’s annual results for the year ended 31st December 2018. The information contained in this announcement is only based on a preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31st December 2018 which have not been audited or reviewed by the external auditors of the Company. Shareholders and potential investors are advised to read carefully the annual results announcement of the Company for the year ended 31st December 2018 which will be published in March 2019.


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