- HONG KONG: Cathay Pacific Airways Ltd.
- says first half profit fell 59 percent, buffeted by rising fuel costs.
The airline said it posted profit of HK$2.81 billion ($359.6 million) for the January-June period on revenue of HK$46.79 billion.
It had profit of HK$6.840 billion on turnover of $41.34 billion in the same period last year.
A statement from the airline says “increased jet fuel prices had a significant effect on operating results.”
It says fuel costs are its largest single expenditure.