STOCK MARKET BSE NSE

HK's Cathay posts $120M loss in 1H on fuel costs

Published: 08th August 2012 11:24 AM  |   Last Updated: 08th August 2012 11:24 AM   |  A+A-

By AP

Hong Kong's Cathay Pacific Airways says it fell into the red in the first half of the year because of persistently fuel high prices and weak air cargo demand.
Cathay posted a loss Wednesday of 935 million Hong Kong dollars ($120.5 million) or 23.8 Hong Kong cents a share for the first six months of 2012. That's down from a profit of HK$2.8 billion ($360 million), or 71.4 cents, last year
Many global airlines are suffering from high fuel prices. Cathay is coping by replacing older, fuel-thirsty jets with newer, more efficient ones. It also announced that it's beefing up a 2010 order for Airbus A350 jets by adding 10 more to the deal and converting 16 others into larger models.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp