Cathay Pacific Airways Ltd. has finally shaken off the lingering effects of the pandemic, reporting a record operating profit, reports Bloomberg. Operating income more than tripled to HK$15.1 billion ($1.9 billion) in 2023, Hong Kong’s dominant carrier said Wednesday. That bested the previous record of HK$14.1 billion in 2010, though was broadly in line with analyst estimates of HK$15 billion.
The more closely watched net income figure came in at HK$9.8 billion—the first profit after three years of losses. Revenue rose 85% to HK$94.5 billion as the post-pandemic travel demand continued, and ticket prices rose.
“In 2023, we finally left the Covid-19 pandemic behind us,” Chairman Pat Healy said in a statement.