Airline

Cathay Pacific reports 83% drop in annual profit

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Cathay Pacific reports 83% drop in annual profit

Cathay Pacific has posted an 83% fall in profits citing lacklustre premium sales, continued weak cargo demand and higher fuel costs. The carrier made a net profit of HK$916m ($118m) in 2012, down from HK$5.5bn for 2011. "Premium class yields were affected by travel restrictions imposed by corporatio...

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