The Wall Street Journal

Cathay Pacific unveils Airbus order as lower ticket prices trim profit

Cathay Pacific unveils Airbus order as lower ticket prices trim profit
Cathay Pacific is buying new Airbus jets. (Image: Supplied)
The Wall Street Journal
By Kimberley Kao Cathay Pacific Airways is set to buy Airbus jets valued at US$11 billion (NZ$18.3b), the Hong Kong flag carrier said as it posted a drop in first-half profit in part due to lower ticket prices.On Wednesday, the airline said that its net profit in the first six months fell 15% in the year to HK$3.61b (NZ$770 million). It attributed the fall to the “normalisation of ticket prices”.Revenue rose 14% to HK$49.60b, helped by passenger flights reaching 80% of pre-pandemic levels, which also boosted cargo capacity, it...

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