Hong Kong's Cathay Pacific Airways reported a marginal rise in its full-year profit on Wednesday, following a stronger second half due to a holiday-season boost in travel demand and lower fuel prices.

The airline said its annual net profit rose slightly but flagged that trade conflicts could pose risks to its cargo business.

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.