Capacity cuts help Cathay Pacific

Cathay Pacific Airways, the world’s largest international air cargo carrier, is scaling back seating capacity on some long-haul routes to offset declines in its air freight business, allowing it to post a first-half net profit yesterday. Cathay said its net income hit HK$24m (£1.99m) for the first six months of the year, compared to a HK$929m net loss for the same period last year. That loss was its worst performance since the outbreak of Severe Acute Respiratory Syndrome in 2003 curtailed air travel.