Cathay Pacific profits skyrocket as revenues climb

Cathay Pacific Airways reported its second-best year with profit to shareholders of HK$4.42 billion ($566 million) for full-year 2004, up sharply over net income of HK$1.3 billion in SARS-affected 2003. Cathay attributed the growth to the improved Hong Kong and global economies compared to 2003 and noted that 2004 would have been its best year on record had there not been a sharp rise in the price of fuel. Turnover increased 32.1% to a record HK$39.07 billion as the airline carried a record ...