It would also beat analysts’ estimates of HK$8.4 billion in net income, not accounting for an expected one-off HK$900 million gain.
The airline’s surprise profit guidance was aided by an increase in passengers in the second half of the year, along with strong cargo demand, as the airline added more flights. Its overall performance was offset by continued losses at budget unit HK Express. The airline posted net income of HK$3.6 billion for the first six months of the year.
The last period Cathay saw back-to-back annual profit growth was between 2013 to 2015.
Cathay additionally said it expects a “strong” Christmas period, one of its typical peaks for air travel demand, while the key Lunar New Year travel period looked “promising”.
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