Cathay Pacific Reports Record ProfitHong Kong's biggest airline Cathay Pacific reported Wednesday a record net profit of 5 billion HK dollars (US$641 million) in 2000, up 129.6 percent from 1999.The company attributed the record result to the strengthening economies across the region which resulted in a growing demand for both passenger and cargo services. The 11.86 million passengers and 769,075 tons of cargo carried in the year were both new records, according to the company's annual results. Despite some concerns over the slowing of the world economy, Cathay Pacific remains optimistic about both the long-term growth potential of the business and the strength of Hong Kong as Asia's leading aviation hub. Cathay is adding 11 aircraft this year, which will increase its operating fleet to 78 aircraft by the end of 2001. |
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