Cathay Pacific triples its net profit

Hong Kong carrier Cathay Pacific said Wednesday net profit more than tripled last year on a rise in Chinese travellers and fuel-cost savings, but its cargo unit saw earnings fall while analysts warned of a tough future. The city's flag-carrier said profit jumped to HK$2.62 billion ($338 million) from HK$862 million in 2012 as revenue climbed 1.1 percent to HK$100.5 billion. The 204 percent increase helped the firm recover from a painful 2012, when its bottom line was hammered by the effects of the eurozone crisis as well as persistently high fuel prices, according to AFP.