The Doha-Hong Kong route is being serviced by an Airbus A330-300 aircraft with a two-class configuration, including business class and long-haul economy class

High load factors from its Doha-Hong Kong service and strong revenues on Middle East routes helped Cathay Pacific report a first-half net profit of $254.3mn, compared with $44.7mn posted in the same period last year.
The Hong Kong-based carrier said earnings per share rose to 6.46 US cents from 1.13 cents for the corresponding period in 2014.
Revenue for the period, however, decreased by 0.9% to $6.498bn.
The Doha-Hong Kong service is being serviced by an Airbus A330-300 aircraft with a two-class configuration, including business class and long-haul economy class. Launched on March 30, 2014, Cathay Pacific said its second year of operations continues to be characterised by “the remarkable response from the Qatari market.”
Cathay Pacific chairman John Slosar said: “The operating environment was generally positive in the first half of 2015. Passenger and cargo demand was generally strong. We reduced our operating costs due to lower fuel prices, partially offset by fuel hedging losses. We continued to manage non-fuel costs effectively.
“We usually perform better in the second half of the year than in the first. We expect our business to do well in the remainder of 2015 and we will continue to focus on providing high-quality products and services. We will continue to invest in aircraft, our products and the development of our network. Our financial position remains strong.”
The group’s performance in the first six months of 2015 was “considerably better” than in the same period in 2014. There were higher load factors in the group’s passenger business, reflecting strong economy class demand.
The increase in demand in air cargo markets, which began in summer 2014, continued in the first part of 2015, but demand slackened in the second quarter. There was an improved contribution from subsidiary and associated companies. Air China’s profits were significantly higher, principally as a result of lower fuel prices. Passenger revenue for Cathay Pacific and Dragonair decreased by 0.8% to $4.671bn. Capacity increased by 6.4%, reflecting the introduction of new routes to Boston and Zurich and increased frequencies on other routes.
The load factor increased by 2.3 percentage points to 85.9%, Cathay Pacific said. It added that strong competition, a significant reduction in fuel surcharges, foreign currency movements, and higher proportion of passengers connecting through Hong Kong put downward pressure on yield, which decreased by 9.3% to US7.79 cents.