Cathay Pacific back in the black
Hong Kong carrier Cathay Pacific seems to have achieved a remarkable turnaround in its fortunes.
After two full years of losses, it expects to post a healthy net profit for 2018.
In a filing Cathay said it expects to post a HK$2.3 billion ($293 million) profit for the full-year which has surprised analysts.
It posted losses of HK$1.26 billion in 2017 after recording its first ever loss a year earlier.
The airline cites steady passenger load factor even though it increased capacity as well as a strong showing for its cargo business.
It is the first tangible evidence the airline’s 2017 restructuring plan has borne fruit. It cut 600 administrative positions and replaced its chief executive then and cites the turnaround plan having a ‘positive impact’ on its current performance.
It hasn’t all been plain sailing in 2018. It was heavily criticised for its handling of a huge data breach which leaked information of more than 9 million customers.
It also issued a warning that cargo demand is likely to soften during 2019 on the back of a slowing global economy.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Skyscanner reveals major travel trends 2026 at ITB Asia
In Italy, the Meloni government congratulates itself for its tourism achievements