The airline net profit in the first six months fell 15% from a year earlier 

Cathay Pacific said it expects to restore passenger flights to prepandemic levels by the first quarter of 2025. Photo: Lam Yik/Bloomberg News
Cathay Pacific Airways is set to buy Airbus AIR 0.24%increase; green up pointing triangle jets valued at US$11 billion, the Hong Kong flag carrier said as it posted a drop in first-half profit in part due to lower ticket prices.

The airline on Wednesday said net profit in the first six months fell 15% on the year to 3.61 billion Hong Kong dollars, equivalent to US$463.1 million. It attributed the fall to the “normalization of ticket prices.”

Revenue rose 14% to HK$49.60 billion, helped by passenger flights reaching 80% of prepandemic levels, which also boosted cargo capacity, it said. Yield, or the revenue earned per passenger, declined by 11%, given that more passenger flights are being added to the market, it added.

Excerpt from WSJ
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