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Cathay Pacific's 2005 profits in decline
Hong Kong, China - Passenger traffic's growth does not offset costs
Hong Kong-based Cathay Pacific Airways declared yesterday that its net profit in 2005 fell 25.3% from a year earlier because of surging jet fuel prices. 2005 net profit totalled USD 425m (EUR 357m), while revenue rose to USD 6.56bn (EUR 5.51bn) thanks to strong growth in passenger traffic (+14%). Despite this growth, Cathay Pacific’s earnings didn’t have a good performance, as fuel costs, which ros...
AVIONEWS - World Aeronautical Press Agency - 137226
AVIONEWS - World Aeronautical Press Agency
AVIONEWS - World Aeronautical Press Agency