According to the airways, the net profit was slightly decreased as compared with a profit of 1,670 million Hong Kong dollars (214.10 million US dollars) the previous year, as high fuel prices continued to undermine increased productivity and revenue.

    As commented on the performance, Cathay Pacific Chairman Christopher Pratt said: "This was a creditable performance given the high cost of fuel. Nonetheless, expansion plans announced in the first half of our 60th anniversary year show the confidence we have in the airline's future and in the future of Hong Kong."

    "Our full-year results, which should benefit from the acquisition of Dragonair, will continue to be heavily influenced by the price of fuel and related surcharges. Yet we remain single-minded in our mission to deliver superior service and value to our customers, to grow our business profitably and to strengthen Hong Kong as a global aviation and logistics hub and gateway to the Chinese Mainland," he added.

    Fleet expansion is continuing apace, according to the airways. In July, the airline took delivery of a Boeing 777-300 and a second Boeing 747-400BCF, Boeing Converted Freighter. A third converted freighter is due in September. Three more will arrive in 2007 and the airline has conversion options on a further six. Cathay Pacific's 100th aircraft, an Airbus A330-300, will arrive at the end of August 2006. The 2,000th pilot and 7,000th cabin crew member joined the airline's staff.

    Looking forward, Cathay Pacific has ordered a further two Boeing 777-300ER long-range passenger aircraft, raising its commitment to 18 aircraft, with options on a further 20, and ordered six new Boeing 747-400ERF, Extended Range Freighters, for delivery in 2008 and 2009, it said. Enditem