Profits Up At Cathay Pacific, But Hedging Costs $117m

Cathay Pacific’s net profit rose by 20 per cent in 2014 due to a rise in passenger numbers and cargo, but the Hong Kong flag carrier’s results came in below expectations due to falling oil prices.

The airline reported an income of HK$3.15bn ($406m) last year, but this came after a HK$911m ($117m) hit as a result of fuel hedging.

Passenger numbers increased by 5.5 per cent in 2014 to 31.57 million after the airline launched additional flights to the US and traveller numbers from Northeast Asia increased.

Despite posting a profit below its previous expectations, Cathay Pacific said it remained "positive" about its overall prospects.

TAGS: Asia Pacific
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