Similar Stories to Cathay Pacific Profit Nearly Doubles As Fuel Cost Falls on Bing News

HONG KONG (AP) — Cathay Pacific Airways says annual profit nearly doubled in 2015 as passenger demand grew and tumbling oil prices cut its fuel bill. Hong Kong's biggest airline said Wednesday that net income jumped 90.5 percent from the year before to 6 billion Hong Kong dollars ($773 million). Airlines are benefiting from the drop in the price of crude oil, which has gone from more than $100 a barrel to the $30 level over the two years. Cathay said jet fuel costs fell 18 percent last year even after taking into account losses from hedging aimed at minimizing fuel-bill volatility that locked the carrier into higher prices. The company, which also operates Asian regional carrier Dragonair, said passenger numbers grew 7.9 percent.Read more on NewsOK.com

Topics:  hong kong ap     cathay pacific airways   airlines   cathay   asian   dragonair   newsok   hong kong    cathay   profit   fuel cost   passenger   carrier   year   percent   oil   grew   prices   
BING NEWS:
  • Cathay expects ‘strong’ second-half results on cargo, fuel costs
    Cathay Pacific expects a "strong" showing for the second-half financial results, as it approaches full capacity recovery January next year.
    12/23/2024 - 1:41 am | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News