CATHAY PACIFIC AIRWAYS is to commence a daily 16-hour non-stop flight from Hong Kong to New York, starting 1 July. This will be the only daily non-stop service between the two cities and, with the continuation of the airline's existing one-stop operation via Vancouver, the airline becomes the only carrier operating two daily flights on the route. Cathay will use the ultra-long-haul Airbus A340-600 flying over the northern polar region. Passengers saving is about three hours on the journey time and will avoid the inconvenience of having their rest disturbed during an intermediary stop. The A340-600 will offer eight first class, 60 business class and 220 economy class seats. Given its reputation for high quality food and service Cathay is giving serious consideration to innovation regarding on board dining and refreshments. Cathay announced at the same time that profits for 2003 down by two-thirds to ”93m with turnover falling by 10.6%, figures that surprised nobody following the SARS problems and perhaps better than expected. Whilst loss making for the first six months of 2003, in the second half of the year the airline was profitable.