Cathay Pacific Airways has gained a net revenue of 2.35 billion Hongkong dollars (HKD) with a year-on-year growth of 286.26% by the end of 2018 after two years' loss, which is way more than what the shareholders' expected. The growth in performance obviously increased the stock price which was up 2.28% to 13.48 HKD per share till closing on March 13, with a transaction volume of 69.85 million HKD.

According to Cathay Pacific's performance report for 2018 published on March 13, the total revenue was 111.06 HKD, 14.2% up year on year with a net revenue of 2.35 billion HKD, 286.26% up year on year. In detail, passenger transport contributed 73.12 billion HKD, up 10.1% year on year, cargo service 28.32 billion HKD, up 18.5% year on year. Aviation food, withdrawn money and other services contributed 9.63 billion HKD, up 38% year on year.

Since 2016, the carrier had been operating with loss till June, 2018. Faced with uprising oil price, stronger American dollars and ferocious external competitions, it exceeded people's expectation that the Hongkong - based airline should turn the scale.

Analyses showed that the airline's success after a 267 million HKD loss came mainly from the improvement in capacity, 2.6% up, rate of revenue, 14% up and load factor, 68.8% up of passenger transport and cargo service in both Cathay Pacific Airways and Cathay Dragon Airlines.

As for the increase of capacity in 2018, the carrier newly opened air routes to Brussels, Dublin, Copenhagen and added flights in routes to Tel Aviv and Barcelona, making its capacity of European routes up 10.8%.

At the same time, the reduction in fuel cost was also critical to its remarkable performance. Despite of the oil price rise for consecutive 10 months last year, the fuel cost though accounting for the largest part of total cost was not the one that grew the highest. Quite the opposite, expenditures in landing, parking and airline operating increased by 14.9% to be the highest, partially due to the congestion in Hongkong International Airport and air control in Greater China. In fact, the carrier's loss in fuel hedging, a way to control fuel cost, decreased by 77.34% compared to 2017.

Besides, in order to rejuvenate from the loss since 2016, the airline started a three-year transformation plan in 2017, in respects of productivity, digitalization, and service capabilities, among which the restructuring of overseas business was of great importance. They were at the turning point in 2018 and the report showed the transformation had some positive effect.

At the end of 2018, Cathay Pacific Airways, having already seized the high-end market in Hongkong, acquired 40% shares of Air Hong Kong, an all-cargo airline, further fortifying its stand in Hongkong market. What's more, it announced in March this year the negotiation of the acquisition of the Hongkong-based low cost carrier - Hongkong Express Airways, which was believed an ambition to take fully control of Hongkong Civil Aviation.