Hong Kong flag carrier Cathay Pacific Airways expects its first-half net profit to jump by as much as 75 per cent to HK$6.5 billion (US$829 million) from HK$3.7 billion a year earlier, as passenger and cargo traffic grew despite the Middle East war.
The airline said on Wednesday that earnings were also boosted by a one-off gain of about HK$1.4 billion from the dilution of its interest in Air China following a share sale.
The United States and Israeli strike on Iran on February 28 triggered a war that severely disrupted flights to the Middle East and sent oil prices skyrocketing, leading airlines to sharply raise fuel surcharges.
Cathay Group said it expected net profit to range between HK$6 billion and HK$6.5 billion in the first half of 2026, compared with HK$3.7 billion a year ago.
“Although jet fuel prices remained elevated, Cathay Pacific and HK Express carried a combined total of more than 3.1 million passengers in June, while Cathay Cargo transported around 145,000 tonnes of freight, both up 9 per cent year on year,” said Lavinia Lau Hoi-zee, chief customer and commercial officer.
The company’s previous highest interim profit was HK$1.34 billion in 2019.