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0522 GMT – Cathay Pacific Airways‘ 4Q outcomes may very well be sequentially improved amid the height season for journey and cargo and softening jet-fuel costs, HSBC International Analysis analysts mentioned in a observe. HSBC raised its 2023 revenue earlier than most popular dividends forecast to 9% on larger cargo yields and decrease gasoline costs. Common air freight charges from Hong Kong to the US and Europe in 4Q to this point have recovered 14%-18% within the quarter, it mentioned. Whereas passenger capability is forward of the airline’s goal, extra direct flights between China and the US might threaten Cathay Pacific’s long-term visitors, because it advantages mainland vacationers who use Hong Kong as a US gateway HSBC repeated its buy. score and HK$9.60 goal on the inventory, which just lately traded at HK$8.05. (firstname.lastname@example.org)
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