Cathay Pacific says 2012 net profit slumps 83.3%
- Published: 13 Mar 2013 at 13.49
- Online news: World
Cathay Pacific said on Wednesday that 2012 net profit plunged 83.3 percent, as the Hong Kong flag carrier was hit by persistently high fuel prices and the eurozone financial crisis.
This file photo, provided by Boeing on March 4, 2013, shows a Cathay Pacific Airways' 747-8 freighter cargo aircraft. Cathay Pacific says it net profit plunged 83.3 percent in 2012, as the Hong Kong flag carrier was hit by persistently high fuel prices and weak air cargo demand.
The airline said profit stood at HK$916 million ($118 million), down from the HK$5.5 billion it recorded in 2011. Revenue rose 1.0 percent to HK$99.4 billion from HK$98.4 billion in 2011.
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