Cathay Pacific has produced a dramatic turnaround in its financial results for 2018, providing the strongest evidence yet that its transformation plan is paying off. The Hong Kong-based Cathay Group reported a net profit of HK$2.3 billion ($293 million) in 2018, reversed from a net loss of HK$1.3 billion in the previous year. Impressive revenue and yield growth outstripped cost rises, driving the overall improvement. Cargo was stronger, and fuel hedging losses decreased. The 2018 profit ...

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