August 7, 2019 / 4:19 AM / 3 months ago

Cathay Pacific swings to half-year profit on higher revenue, lower fuel costs

SINGAPORE, Aug 7 (Reuters) - 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%. ($1 = 7.8385 Hong Kong dollars) (Reporting by Jamie Freed; Editing by Muralikumar Anantharaman)

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