Cathay Pacific reports loss of US$33 million

Cathay Pacific Airways reported a loss of HK$263 million (US$33 million) for the first half of this year on the back of rising operating expenses, which rose by 8.5% to HK$53.3 billion in the first six months of the year. Fuel costs rose by 7.4%, with airport landing and parking fees up 18.4% and aircraft maintenance up 5.2%. Revenue grew by 15.&% however to HK$53 billion due to strong earnings from its cargo business and an increase in airfare prices. In a statement, chairman John Slosar, said that the operating environment for Cathay Pacific and Cathay Dragon “remains challenging”, adding