Cathay’s 2011 profit plunges on fuel prices, weak cargo demand
Katie CantleMarch 18, 2012
Cathay Pacific 777-300ER. Courtesy, Boeing Cathay Pacific (CX) Group posted a net profit of HKD5.5 billion ($709 million) for 2011, down 62% over net income of HKD14.05 billion in 2010. CX said the results were affected by “persistently high jet fuel prices” and weak cargo demand due to “instability...
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