Net Profits Drop As Cathay Pacific Removes 747s From Service
Cathay Pacific's net profits fell 55.5% last year to HK$1.69 billion ($217 million) as a downturn in tourism pummeled the airline. Traffic started out well in 1997, before the U.K. handed over control of Hong Kong to China, but it began to fall by midyear and dropped further during the Asian...
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