Cathay Pacific (293.HK)

Cathay Pacific Airways (293.HK) announced on August 9 its interim results for 2023, turning from loss to profit. Revenue increased from HKD 18.551 billion to HKD 43.593 billion, a growth of 135%, and net profit was HKD 4.267 billion, the best profit performance since 2010. This was primarily due to the still high passenger yield and strong travel demand. Cathay's passenger capacity is also planned to increase, expected to restore to pre-pandemic levels by the end of 2024. Cathay is confident in the future of the Hong Kong aviation industry and plans to expand its fleet by purchasing an additional 32 aircraft based on the original order of 42 aircraft. All these 32 aircraft are passenger aircraft, aiming to cater to the rapid growth and modernisation of the fleet as the three-runway system is about to be put into operation.