Cathay Pacific Airways reported marginal full-year profit growth on Wednesday, but airfares fell because of intense competition as Asia's airlines continue to restore seat capacity after the pandemic.

Hong Kong carrier Cathay Pacific said on Wednesday that its attributable profit rose slightly in 2024 to US$1.27 billion, after announcing earlier this year that its flights were finally back to pre-pandemic levels.

Cathay Pacific Airways (HK:0293) posted a slight increase in annual profit for 2024, fueled by strong travel demand but tempered by rising costs and normalizing ticket prices. The airline reported a 1% year-on-year

Hong Kong's Cathay Pacific Airways reported marginal full-year profit growth on Wednesday, but airfares fell because of intense competition as Asia's airlines continue to restore seat capacity after the pandemic.