Cathay Pacific Airways ( (HK:0293) ) has provided an update.
Cathay Pacific Airways Limited announced its 2024 annual results, reporting a 10.5% increase in revenue to HK$104,371 million and a slight rise in profit attributable to shareholders by 1.0% to HK$9,888 million. The airline experienced growth in both passenger and cargo operations, with a notable increase in available seat kilometers and revenue passenger kilometers. Despite a decrease in profit margin and passenger yield, the company improved its aircraft utilization and reduced its total recordable injury frequency rate by 36.0%, indicating operational efficiencies. The announcement reflects the company’s ongoing recovery and strategic focus on expanding its market presence, although challenges remain in maintaining profitability and managing environmental impacts.
More about Cathay Pacific Airways
Cathay Pacific Airways Limited is a Hong Kong-based airline company, primarily engaged in providing passenger and cargo air transportation services. The company operates through its main airline, Cathay Pacific, as well as its subsidiary, HK Express, focusing on both regional and international markets.
YTD Price Performance: 16.39%
Average Trading Volume: 1,702
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $9.25B
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