According to the research report released by Lyon, it maintains a "outperform" rating for Cathay Pacific Airways (00293), but due to the expected slowdown in profits of airlines other than Air China in the next three years, the target price was lowered from HKD 10.6 to HKD 9.2.

The report stated that the company's adjusted profit in the period increased by 79% year-on-year. Although the bank still expects a decline in the group's profitability, it has also lowered its spending forecast, thus raising profit forecasts for the group in 2024 and 2025 by 59% and 37%, respectively.