Cathay Pacific’s annual profit rises 1% on higher passenger volumes

(Reuters) – Hong Kong’s Cathay Pacific Airways reported a marginal 1% rise in its full-year profit on Wednesday, driven by higher passenger volumes and lower fuel prices, partly offset by a continued normalisation of passenger yields in the second half.

Hong Kong’s flagship airline posted a net profit of HK$9.89 billion ($1.27 billion) for the full year ended December 31, compared with HK$9.79 billion reported a year earlier.

The company declared a second interim dividend of HK$0.49 per ordinary share.

($1 = 7.7705 Hong Kong dollars)

(Reporting by Shivangi Lahiri and Nichiket Sunil in Bengaluru; Editing by Rashmi Aich)