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Some good news for a change. :D

Cathay Pacific profits go higher

Only high oil prices prevented it being Cathay's best year
Cathay Pacific, Hong Kong's biggest airline, reported profits of 4.42 billion HK dollars ($567m; £294m) for 2004 buoyed by a strong local economy.
The firm said an improved world economy also contributed to profits which were more than triple the 1.3bn Hong Kong dollars of Sars-hit 2003.

Profits were above analysts' expectations of 4.01bn Hong Kong dollars.

Sales rose 32% to 39.07bn Hong Kong dollars from 29.58bn a year ago.

The figures also compared well with 2002 - before the 2003 outbreak of the potentially fatal flu-like Severe Acute Respiratory Syndrome (Sars), which depressed air travel.

The airline had stronger passenger and cargo traffic, carrying a record 13.66m passengers and 972,416 tonnes of cargo.

Cathay Pacific said 2004 would have been its best year on record if the price of oil had not been so high.

Instead its profits were the second highest ever.

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