Cathay Pacific profit jumps 71% to $795m

Cathay Pacific reported net profit of HK$6.2 billion, or US$795 million, for the first half of the year, up 71% from a year earlier, as strong travel demand helped offset higher fuel costs linked to the Iran war.

The Hong Kong carrier said revenue rose 25.3% year on year to HK$68 billion. Passenger revenue increased 26.3% to HK$43.2 billion.

The company said passenger revenue was helped by strong travel demand and by more transit traffic through Hong Kong as travellers avoided Middle East hubs in the second quarter.

Cathay Pacific chair Guy Bradley said the result was helped by demand for Cathay Pacific and Cathay Cargo, improved performance from HK Express and stronger contributions from associates.

Bradley said the airline faced a more difficult second quarter because of the Middle East situation and the resulting rise in jet fuel prices. The company said fuel costs nearly doubled from the first quarter to the second and were 59.1% higher than in the same period in 2025.

Cathay Pacific said it had adjusted fuel surcharges several times since the war broke out in February.

The airline carried 17.5% more passengers than a year earlier, while low-cost subsidiary HK Express carried 9.8% more passengers. Cathay Pacific said its European performance was boosted by changes in traffic flows, especially passengers travelling between Europe and Oceania through Hong Kong.

The company said it remained cautiously optimistic for the rest of the year and was on track to reach passenger capacity growth of about 10% for the group. It said it expects elevated fuel prices to continue affecting results and said it aims to add 150 aircraft to its 235-strong fleet over the next 10 years if market conditions are favourable.