Cathay Pacific reports lower profits in first half

Hong Kong’s flag carrier Cathay Pacific reported lower profit in the first half of 2024, despite higher revenues.  The company also indicated that it is investing over HK$100 billion to strengthen its hub in Hong Kong.

First half attributable profit was HK$3.61 billion, down 15.3 percent year over year.  “Our strong performance for the first six months of the year was primarily driven by the ongoing robust demand for travel, and the solid performance of our cargo business,” Chair Patrick Healy said in a statement.