Cathay Pacific Airways blamed high fuel prices for a 59% year-over-year drop in net profit to HK$2.8 billion ($359 million) for the first six months of 2011 (ATW Daily News, Aug. 5, 2010). The slump comes despite a 13.2% increase in half-year revenue to HK$46.8 billion. The airline said that increased jet fuel prices had a significant effect on operating results in the 2011 first half. CX and affiliate Dragonair carried 13.2 million passengers during the six months, up 1.7% over 2010. ...

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