Cathay Pacific is Back in the Black But Its Slow Recovery Worries Some

The fortunes of Cathay Pacific Airways are on the upswing with the carrier's financial forecast firmly in the black after years of Covid losses.

The Hong Kong-based Oneworld alliance carrier said Friday that it expects a "consolidated profit" in the first half of the year. That would be a dramatic reversal of the HK$5 billion ($639 million) group net loss it posted during the same period last year; Cathay's airline business only lost HK$2.5 billion during the period.

"The Cathay Group has seen a strong rebound in the performance of our airlines," Cathay Chief Commercial Officer Lavinia Lau said in a statement.

Cathay was hit hard by the Hong Kong government's strict Covid restrictions. The Chinese special administrative region only ended most of its rules in December. Thi