Cathay had previously forecast second-half results to be better than the first half, when it reported an 82 per cent year-on-year net profit slump to HK$353 million. Photo: Cathay Pacific Archives

Cathay Pacific lowers second-half profit forecast as overcapacity, competition take a toll

Hong Kong’s flagship carrier says business has “deteriorated” since an interim report in August

Topic |   Cathay Pacific

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Cathay had previously forecast second-half results to be better than the first half, when it reported an 82 per cent year-on-year net profit slump to HK$353 million. Photo: Cathay Pacific Archives
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Eric Ng

Eric Ng

Eric joined the SCMP in 1998 after brief stints in a trading company and translation and editing roles at Dow Jones and Edinburgh Financial Publishing. He has close to 20 years of experience covering China's energy, mining and industrial materials sectors, and has recently added biotechnology to his coverage. Eric has a Masters of Business Administration degree.