AVIATION | Staff Reporter, Hong Kong

Cathay Pacific to report worst full-year performance in eight years

Analysts expect a $58m profit for 2016.

According to Bloomberg, in the three years Ivan Chu has been the chief executive officer at Cathay Pacific Airways Ltd., he has seen the marquee carrier’s stock become Asia’s worst performer on the Bloomberg World Airlines Index. 

Asia’s biggest international airline is set to post its worst full-year performance for 2016 since a loss eight years ago as Chinese carriers and rising costs erode earnings. The median forecast in a Bloomberg News survey of nine analysts is for a profit of HK$450 million ($58 million).

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