Cathay Pacific (CX/CPA) have been able to announce there financial results for 2018 and that being with good news. After two years of losses, the airline has been able to turn around a profit as the industry enters a new phase of competition.
Cathay Pacific have directed that the reason for the turnaround from HK$ 1,259 Million in loss to HK$ 2.3 Billion was due to “capacity growth, a focus on customer service and improved revenue management.” Which were a result of the airlines transformation programme implemented after the annual loss that occurred after 8 years of consecutive profits.
The airline also indicated that “strong” cargo operations also led to supporting the turnaround and in its passenger division, seeing passenger yield and load factors either being sustained or increasing in its network.
The airline also indicated however, despite the turnaround, there were still clear “competitive pressure” that the airline felt in 2018.