Cathay Pacific profit nearly doubles

Cathay Pacific profit nearly doubles

Cathay Pacific Airways says its annual profit nearly doubled in 2015 as passenger demand grew and tumbling oil prices cut its fuel bill.

Hong Kong’s biggest airline said on Wednesday net income jumped 90.5 per cent from the year before to $HK6 billion ($A1.04 billion).

Airlines are benefiting from the drop in the price of crude oil, which went from more than $US100 a barrel to the $US30 level in the two years.

Cathay said jet fuel costs fell 18 per cent in 2015, even after taking into account losses from hedging aimed at minimising fuel-bill volatility that locked the carrier into higher prices.

The company, which also operates Asian regional carrier Dragonair, said passenger numbers grew 7.9 per cent.

Latest News

  • Aviation

Low-cost Indian carrier SpiceJet continues to burn cash

It’s not just low-cost Australian carriers that are facing hardship. SpiceJet, India’s version of Bonza, recently announced a 72 per cent reduction in its net loss versus last year. But, despite this improvement, the airline has posted losses for six straight years. But it has secured board approval to raise up to INR 30 billion […]

  • Attractions

SAKA Museum recognised in TIME magazine’s World’s Greatest Places 2024

AYANA Resort Bali’s newly-opened cultural and events centre, SAKA Museum has been recognised in TIME magazine’s World’s Greatest Places list for 2024. Part of AYANA Bali’s resort destination, the museum integrates Bali’s rich history with state-of-the-art facilities, making it the centrepiece for the island’s spiritual and cultural heritage. TIME magazine’s inclusion of SAKA Museum in […]

  • Cruise

Silversea taps Barbara Biffi as senior vice president for global sales

Ultra-luxury and expedition cruise travel brand, Silverseas, has announced Barbara Biffi as its new senior vice president of global sales. Biffi joined the company in 2007, holding numerous positions and gaining a deep understanding of the brand, the preferences of its guests and its strategic goals, the company said. An Italian national with a wealth […]

  • Technology
  • Travel Agents

Amadeus welcomes FCM Travel as new reseller partner of Cytric Easy

Cytric Easy, the travel management tool embedded in Microsoft Teams, is to be integrated into FCM Travel portfolio. Amadeus and FCM Travel have extended their Cytric distribution agreement to include Cytric Easy. With this new agreement, global travel management company FCM Travel, becomes a reseller of the innovative travel management collaboration solution embedded into Microsoft […]