The Hong Kong airline said Wednesday that net profit hit $1.25 billion in 2023.
It benefited from a surge in demand following the end of lockdowns.
That saw revenue surge by 85%.
The carrier had been battered by a slump in demand during the pandemic.
That drove heavy losses and major layoffs.
It was forced to take a $5 billion rescue package from Hong Kong's government.
But now the airline says it's ready to pay ordinary shareholders its first dividend since 2019.
Shares in the firm leapt over 6% following the news, sending the stock to its highest since early 2020.
Now the airline aims to be operating four-fifths of its pre-crisis flights within the second quarter of this year.
It then wants to hit 100% early in 2025.
Cathay has restored services more slowly than close rival Singapore Airlines.
It's been hindered by longer-lasting quarantine rules and a need to hire back laid-off staff.