Cathay Pacific Expects First Annual Profit Since 2019

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Cathay Pacific racked up losses of almost HK$34 billion during the pandemic

(Bloomberg) — Cathay Pacific Airways Ltd. said it will report its first annual profit since 2019 as passenger volumes return to near pre-pandemic levels, cementing its financial rebound from the most damaging period in the airline’s history.

Second-half 2023 results will surpass the first six months, paving the way for a consolidated annual profit overall, the Hong Kong-based carrier said in a statement Thursday. Net income in the first half was HK$4.3 billion ($551 million).