Wednesday, March 13, 2013

Cathay Pacific's 2012 net profit slumps 83.3%

HONG KONG: Cathay Pacific said 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.

The airline said profit stood at HK$916 million (S$145 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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