Cathay Pacific announces annual financial results

Cathay Pacific

Cathay Pacific has announced financial results for 2018. Total revenue was up 14.2% to HK$*111.06bn in comparison to 2017 results. Operating profit in 2018 saw a healthy increase to HK$3,595m which was a significant improvement to the previous year’s loss of HK$1,449m.

Cargo services revenue saw an 18.5% increase in comparison to 2017 figures. This was primarily due to strong e-commerce shipments from Asia. Exports of machinery and food from Europe and the Americas to Asia increased. Cargo was also carried to and from more places in Europe as Cathay Pacific extended its passenger network. Tonnage grew faster than capacity and trans-shipments from the Indian sub-continent, Europe, Japan and Southeast Asia were also high.

Source: Cathay Pacific

*HK$7.85=$ / HK$8.87=€