‘Covid is behind us’: Hong Kong’s Cathay Pacific Group soars to HK$9.78 billion net profit after three years of losses

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Hong Kong flag carrier Cathay Pacific Airways swung to a net profit of HK$9.78 billion (US$1.3 billion) last year from a net loss of HK$6.62 billion in 2022, marking a strong post-pandemic recovery and ending three consecutive years of hefty losses.

Group chairman Patrick Healy on Wednesday said the airline was expecting a return to 80 per cent of its pre-pandemic flight capacity in the second quarter of this year after reaching 70 per cent at the end of last year, which connected the city to 80 destinations.