Cathay Pacific net loss narrows to HK$263 million

Cathay Pacific Airways Ltd. (0293.HK) Wednesday reported its first-half net loss narrowed significantly to 263 million Hong Kong dollars (US$33.5 million) from HK$2.05 billion year earlier, on higher revenue from strong demand for air travel despite higher fuel prices.

The blue-chip airline said its total revenue for the six months ended June was HK$53.08 billion, up 16% from year earlier. The carrier also swung to an operating profit of HK$697 million for the first half from an operating loss of HK$1.70 billion a year earlier. The fuel cost including hedging losses rose 7.4% from a year earlier to HK$16.05 billion.

It declared an interim dividend of HK$0.10 per share.

-Write to Chester Yung at [email protected]

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