Hong Kong's Cathay Pacific Airways reported a marginal 1% rise in its full-year profit on Wednesday, driven by higher passenger volumes and lower fuel prices, partly offset by a continued normalisation of passenger yields in the second half.

The Cathay Group reported a profit of HK$9.9 billion ($1.3 billion) for 2024, compared to an HK$9.8 billion profit in 2023. The carrier described the result as a “solid financial performance,” marking its second consecutive annual profit after returning to the black last year. The second-half performance was stronger than in the first half.

The airline said its annual net profit rose slightly but flagged the potential threat that trade conflicts pose to supply chains in the industry.