Cathay Pacific expects a sharp increase in profits in the first half of the year, and strong passenger and cargo demand helped the company absorb the impact on oil prices caused by the US-Iran war. Cathay Pacific announced on Wednesday on the Hong Kong Stock Exchange that it expects profit of about HK$6 billion to HK$6.5 billion for the first half of the year, up from about HK$3.7 billion in the same period last year. Cathay Pacific's shares in Air China were further diluted, and the shareholding ratio fell from 15.05% to 12.85%. The resulting revenue of HK$1.4 billion also boosted performance. After air travel in the Middle East was blocked due to the war in Iran, travelers switched to other routes and chose alternative airlines, and Cathay Pacific became one of the biggest beneficiaries. Like other airlines, Cathay Pacific is also under pressure from a sharp rise in aviation fuel costs due to the Iran conflict. The company has hedged 30% of its aviation fuel requirements while imposing fuel surcharges on passenger and cargo customers. These measures help mitigate the impact on fuel prices.

Cathay Pacific expects a sharp increase in profits in the first half of the year, and strong passenger and cargo demand helped the company absorb the impact on oil prices caused by the US-Iran war. Cathay Pacific announced on Wednesday on the Hong Kong Stock Exchange that it expects profit of about HK$6 billion to HK$6.5 billion for the first half of the year, up from about HK$3.7 billion in the same period last year. Cathay Pacific's shares in Air China were further diluted, and the shareholding ratio fell from 15.05% to 12.85%. The resulting revenue of HK$1.4 billion also boosted performance. After air travel in the Middle East was blocked due to the war in Iran, travelers switched to other routes and chose alternative airlines, and Cathay Pacific became one of the biggest beneficiaries. Like other airlines, Cathay Pacific is also under pressure from a sharp rise in aviation fuel costs due to the Iran conflict. The company has hedged 30% of its aviation fuel requirements while imposing fuel surcharges on passenger and cargo customers. These measures help mitigate the impact on fuel prices.