Mar. 7, 2007 (China Knowledge) – Cathay Pacific Airways Ltd. <293> announced Wednesday a net profit increase of 24% to HK$4.09 billion in the fiscal 2006, boosted by record passenger numbers and an increase in freight volume.

With the number of passengers rising to 16.7 million, revenue from passenger travel increased by 10.9% to HK$33.6 billion. Revenue from cargo operation also increased to HK$11.98 billion, thanks to tonnage carried rising by 7.2% to 1.12 million tons.

In a statement filed to the Hong Kong Stock Exchange, chairman Christopher Pratt said that high fuel prices have “served to dampen the final result.” The airline had to pay HK$20.21 billion, a year-on-year increase of 29.7%, in 2006.