Cathay Pacific expects to post 2018 profit double analyst estimates

(Reuters) - Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it expected to swing to an annual profit of about HK$2.3 billion ($293.05 million) for 2018, more than double analyst estimates, as it undertakes a turnaround plan.

Before the announcement, 15 analysts polled by Refinitiv I/B/E/S had on average expected the airline to report a profit of HK$1.1 billion for 2018, up from a HK$1.25 billion loss in 2017.

($1 = 7.8485 Hong Kong dollars)

(Reporting by Jamie Freed in Singapore; Editing by Muralikumar Anantharaman)