Cathay posts first profit in 4 years, but delays capacity target

HONG KONG -- Cathay Pacific Airways said on Wednesday that it had returned its first annual profit since 2019, as it finally shook off disruption caused by the COVID-19 pandemic, although Hong Kong's flagship carrier pushed back a goal to return to pre-pandemic capacity.

The carrier is now aiming to reach full pre-pandemic capacity by the end of the first quarter of 2025, rather than the end of this year as it had previously forecast. This was due to staff shortages, company officials said during a press briefing.