Cathay Pacific unveils Airbus order as lower ticket prices trim profit

Cathay Pacific is buying new Airbus jets. (Image: Supplied)

Thu, 08 Aug 2024

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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