Cathay Group rebounds from loss, posts $4.3b profit in 1H23 

The group’s 1H23 profit translates to a 9,267% YoY jump.

Cathay Group’s profit attributable to shareholders skyrocketed to $4.3b  in 1H23 (+9,267% YoY).

The 1H23 profit represents a rebound from 1H22 when the group posted a loss of $4.999b.

In a bourse filing, the group attributed its stronger financial performance to the "continued improvement in the performance" of its airlines.

In 1H23, the group’s airlines and subsidiaries, excluding exceptional items, reported an attributable profit of HK$4.8b.

In the same period, Cathay Pacific’s passenger revenue soared by 1,109.5% YoY to $25.01b.

Given the higher profit, the group was able to pay the deferred dividend of $1.5b on the preference shares held by the Hong Kong SAR (HKSAR) Government on 30 June.