Hong Kong’s Cathay Pacific made $299mn in 2018 | 2019-03-14 | daily-sun.com

Hong Kong’s Cathay Pacific made $299mn in 2018

14 March, 2019 12:00 AM printer

HONG KONG: Hong Kong flag carrier Cathay Pacific on Wednesday announced a net profit of HK$2.35 billion ($299 million) last year, ending two successive annual losses as it embarks on a massive overhaul.

The recovery, which compares with a $160 million loss in 2017, also came in a year that saw it suffer an embarrassing data breach that dented its reputation and could prove costly, reports AFP.

The result was in line with a preliminary alert last month that the airline was back in the black as investors took comfort in the turnaround after two grim years for Asia’s largest carrier.