Air Transport World

Cathay Pacific.(returns to profitability)(Brief Article)(Statistical Data Included)

Cathay Pacific returned to profit at the operating level for the six months to June 30, posting a small gain of HK$236 million versus an operating loss of HK$39 million in the 1998 period. A HK$322 million profit on the sale of investments, primarily shares in Equant, pushed it into the black at the net level as well, with a profit attributable to shareholders of HK$108 million ($13.9 million) versus a loss of HK$175 million in the year-ago period. Absent the extraordinary item, however, Cathay would have remained in the red. …

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