Cathay plans direct New York flights as recovery takes hold Airline shrugs off Sars outbreak to post impressive profit of $1.3b for year from loss of $1.2b in first half.

(From South China Morning Post)

Byline: Russell Barling

Cathay Pacific Airways will launch a daily direct flight to New York in July, as Hong Kong's biggest carrier looks to build on the aviation industry's recovery from last year's devastating Sars outbreak.

Cathay, which on July 1 will become the only airline to offer a daily direct flight between New York and Hong Kong, revealed yesterday it had used a strong second-half performance last year to turn a $1.24 billion first-half loss into a net profit of $1.3 billion for the year, beating analysts' forecasts.

It recorded a net profit of $3.98 billion in 2002.

"It was remarkable …