Cathay Pacific Announce Disapointing Profits

Cathay Pacific, the Hong Kong-based airline has announced that its 2008 profits are disapointing, which is due in no small part to the worldwide rise in fuel costs.

The airline have blamed fuel costs for the reduction of profits with approximately a 60% rise in the average price of aviation fuel. The airline have advised their investors to show caution when dealing with company shares due to the situation that has developed.

Published by: Jon Vickery