Cathay Pacific Group returned to profit in 2009, posting a HK$4.69 billion ($604.9 million) surplus that was reversed from a restated 2008 loss of HK$8.7 billion, as fuel hedges, one-time gains and capacity and cost cuts boosted the bottom line. Revenue dropped 22.6% to HK$66.98 billion, but the company benefitted from fuel hedge gains of HK$2.76 billion and HK$1.25 billion from the sale of a 12.5% stake in Hong Kong Aircraft Engineering Co. (ATWOnline, Sept. 17, 2009). "The global slump ...

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.