Cathay Pacific Airways reported first-half 2025 revenue of HK$54.31 billion, operating profit of HK$5.93 billion and net income of HK$3.65 billion. Passenger traffic generated HK$37.21 billion, while cargo contributed HK$12.76 billion, helped by lower fuel costs and a continued rebound in travel demand. Despite the top-line growth, the Hong Kong carrier cautioned that passenger yields fell 12.3 percent at its flagship brand and 21.6 percent at low-cost unit HK Express as regional capacity returns. Management also flagged softer airfares and an uncertain cargo market, sending the stock down more than 10 percent—its sharpest one-day decline since 2008. Alongside the results, Cathay exercised purchase rights for 14 Boeing 777-9 wide-body jets and secured options for up to seven more, its first Boeing order in 12 years. The aircraft have a combined list value of about US$8.1 billion and are scheduled for delivery through 2034, enabling the airline to refresh its long-haul fleet.