Cathay Pacific Airways Chief Executive Tony Tyler (L) and Chairman Christopher Pratt attend a news conference to report the airline's annual results, in Hong Kong March 14, 2012. Cathay Pacific Airways Ltd, Asia's No.4 carrier by market value, posted a bigger-than-expected 61 percent drop in 2011 net profit on Wednesday amid high fuel costs and a slowing global economy, and warned of a more challenging year ahead. REUTERS/Bobby Yip (CHINA - Tags: TRANSPORT BUSINESS)