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Cathay Pacific Reports 90.5% Profit Increase
Posted: 2016 Mar 12
 
The Cathay Pacific Group has reported a massive jump in profits with an attributable profit of HK$6,000 million for 2015, compared to HK$3,150 million in 2014, the business benefiting from low fuel prices. 
 
Accounting for 34.0% of total operating costs in 2015, fuel is still the Group’s most significant cost, it accounted for 39.2% of total operating costs in 2014. Cathay Pacific Chairman John Slosar said: “The operating environment was better in 2015 than in 2014, but we faced some significant challenges, which we expect to continue in 2016. Strong competition from other airlines in the region, foreign currency movements and weak premium class passenger demand will put pressure on passenger yield. Cargo demand will be adversely affected by industry overcapacity. Overall passenger demand remains strong and we expect to continue to benefit from low fuel prices. Our subsidiaries and associates are expected to continue to perform well.”’ 
 
The airline reported high passenger load factors in the first half of the year and while Economy class demand was strong, Premium class demand was not as strong as expected on some long-haul routes. Cathay introduced its new livery in November 2015 and the Group continues to invest heavily in its products and brands.All Cathay Pacific and Dragonair wide-bodied passenger aircraft have been fitted or refitted with new or refreshed seats in all classes, except for Boeing 747-400 and Airbus A340-300 passenger aircraft that are being retired. 
 


 
 
 
 
 

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