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4/6/2016, 2:08 PM (Source: TeleTrader)
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Cathay Pacific Airlines: Lower revenue, higher earnings per share for 2015

Cathay Pacific Airlines reported full 2015 year results with 3.4% lower revenues at HK$ 102.34 billion (US$ 13,19 billion), according to earnings report published on Wednesday.

Net profit of HK$6 billion (US$773.56 million) comes with profit margin of 5.9%, and translates into earnings per share of HK$0.152 (US$0.196), which is 90.4% higher than a year ago. Annual dividends per share were declared at HK$0.53 (US$0.0683), a rise of 47.2% compared to 2014.

"The business benefited from low fuel prices," said John Slosar, chairman of Cathay Pacific Airlines in the written statement, and added stronger passenger demand for economy class help spread the wings. The premium class demand was not so strong. The case was similar with cargo operations, reflecting lower industrial and trade activity in the Far East.

Cathay Pacific Airlines, which is based in Hong Kong, SAR, China, operates passenger travel under its main luxury brand Cathay Pacific, and also under Dragonair brand. The cargo operations include Air China Cargo (together with DHL Express), and Air Hong Kong. But Cathay Pacific and Dragonair carried 1.8 million tonnes of cargo and mail in 2015. It also operates Hong Kong Airport, serving 20 other airlines.

The corporation invested considerably into new aircraft Boeing 777-300ER, and Airbus A330-300. It has received accolades such as Best Transpacific Airline in the Skytrax World Airline Awards.

Shares of Cathay Pacific last closed down 1.63% at €1.44 in Frankfurt, and landed down 2.82% to $8.26 on Nasdaq.

 

Image: Cathay Pacific aircraft at Hong Kong airport © EPA

Breaking the News / ZR