大行评级丨花旗：维持国泰航空“沽售”评级，中国出境旅游增长疲软

Group 1 - The core profit of Cathay Pacific for the second half of the year was HKD 6.1 billion, representing a year-on-year increase of 7% [1] - Cathay Pacific reported a surge in short-term demand for long-haul flights to Europe and Australasia, which account for approximately 29% of its capacity [1] - There was also a notable increase in transit passenger demand from South Asia (4%) and North America (26%) [1] Group 2 - Cathay Pacific has hedged 30% of its expected fuel consumption for 2026 at a price of USD 70 per barrel, exposing the company to risks from widening aviation fuel crack spreads [1] - Citigroup maintains a "sell" rating on Cathay Pacific, primarily due to weak growth in outbound tourism from China, setting a target price of HKD 11.2 [1]