Cathay December revenue above target

Cathay Pacific Airways's December revenue was more than 20 percent ahead of target, according to an internal document seen by Dow Jones Newswires.

In a weekly business report sent to Cathay Pacific staff, Cathay Pacific chief executive Tony Tyler said the airline ended 2010 with solid growth from a year earlier, though he didn't provide further details.

The load factor for the airline's cargo operations was more than 75 percent in 2010, well above the average of recent years, Tyler said in the document.

In November, Cathay Pacific said it expected its 2010 earnings to more than double to a new record, and also said it will boost capacity to meet demand. It posted a net profit for 2009 of US$6 million, reversing a loss of $11.19 million in 2008, its worst-ever annual result. It reports full-year results March 9.
(Source:www.cargonewsasia.com)