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Old November 9th, 2010, 06:42 PM   #1981
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They have 5th freedoms from Russia to France?
sourced said they have just gained it, although nothing is confirmed at this stage
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Old November 10th, 2010, 10:18 AM   #1982
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Cathay Pacific says weighing options after EU fine

HONG KONG, Nov 10 (Reuters) - Cathay Pacific Airways Ltd said it is evaluating its options with regard to a decision by the European Commission to fine the Hong Kong carrier 57.12 million euros ($78.57 million) over a cargo price-fixing case.

"Cathay Pacific is reviewing the decision and evaluating its options with its legal advisers," the carrier said in a statement late on Tuesday.

Cathay and 10 other international airlines, including Air France-KLM and British Airways Plc, were fined a total of 799 million euros ($1.11 billion) by EU antitrust regulators on Tuedsay for fixing cargo prices.

Shares of Cathay eased 0.45 percent in early trade on Wednesday, slightly better than a 0.83 percent drop in the broader market. ($1=.7270 Euro)
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Old November 11th, 2010, 05:01 AM   #1983
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Cathay Pacific plans to evaluate legal options after EU penalty
11 November 2010
China Daily - Hong Kong Edition

Cathay Pacific Airways Ltd said Wednesday that it would evaluate its legal options after it was fined 57.12 million euros by the European Commission Tuesday for price-fixing with other international air-cargo carriers.

According to a statement filed with the Hong Kong stock exchange, Cathay said that the European Commission had undertaken an investigation and found that a number of international air cargo carriers had agreed to cargo surcharge levels. The Commision found this to be in violation of European competition law.

"The European Commission has imposed a fine of 57.12 euros (equivalent to HK$618 million) on Cathay Pacific. The company is reviewing the decision and evaluating its options with its legal advisers," the carrier said, without making further comment.

Analysts believe the penalty will have little impact on the carrier's earnings, given how small the fine is compared with its robust first-half results as the sector rebounded strongly from the slump following the global financial crisis in 2008.

"The impact of the fine will not be significant to the company's full year earnings," said Claire Teng, an analyst at Standard Chartered Bank. Teng estimated that the impact of the fine will be within 4 percent of Standard Chartered's forecast 2010 earnings for Cathay Pacific.

For the first six months of 2010, the company posted a net profit of HK$68.4 billion, compared with a net profit of only HK$46.94 billion for full-year 2009.

Investors shared a similar view to Teng as Cathay's share price dipped a mere 0.5 percent to close at HK$21.95 Wednesday, outperforming the broad market which saw the benchmark Hang Seng Index closing down 1 percent at 24,501 points amid worries over tightening moves on the mainland.

Besides Cathay Pacific, the EU regulator imposed a total of 799 million euros, or approximately $1.11 billion, on 11 international air-cargo carriers.

The European Commission said in a statement that the cartel members coordinated various elements of price for a period of over six years, from December 1999 to February 14, 2006.

According to the statement, the cartel arrangements consisted of numerous contacts between airlines - at both the bilateral and multilateral level - covering flights from, to and within the European Economic Area.

The European Commission alleged that carriers contacted each other so as to ensure that worldwide airfreight carriers imposed a flat rate surcharge per kilo for all shipments. The aim of these contacts, according to the statement, was to ensure that these surcharges were introduced by all carriers involved and that increases (or decreases) of the surcharge levels were applied in full without exception.

"It is deplorable that so many major airlines coordinated their pricing to the detriment of European businesses and European consumers," Competition Commissioner Joaquin Almunia said Tuesday.

Air France-KLM, Europe's largest airline, received the biggest penalty of 339.6 million euros, followed by British Airways, which was fined 104 million euros. Deutsche Lufthansa AG, Europe's second largest airline, wasn't fined because it was the first to inform on the cartel, said the EU regulator.

Cathay Pacific is the subject of investigations and proceedings with regard to its air cargo operations by the competition authorities of a number of jurisdictions, the Hong Kong-based carrier said in its statement.

Back in 2006, Cathay Pacific, together with other international air-cargo carriers, was investigated by antitrust agencies in the EU and the US.

In December 2007, Cathay Pacific received a statement of objections from the European Commission, under the accusation of price-fixing with other carriers in the international air-cargo market.

In June 2008, Cathay Pacific, along with three other airlines, agreed to pay a $60 million fine imposed by US Department of Justice as the result of price-fixing investigations.
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Old November 11th, 2010, 05:24 AM   #1984
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Originally Posted by hkskyline View Post
Cathay Pacific says weighing options after EU fine

HONG KONG, Nov 10 (Reuters) - Cathay Pacific Airways Ltd said it is evaluating its options with regard to a decision by the European Commission to fine the Hong Kong carrier 57.12 million euros ($78.57 million) over a cargo price-fixing case.

"Cathay Pacific is reviewing the decision and evaluating its options with its legal advisers," the carrier said in a statement late on Tuesday.

Cathay and 10 other international airlines, including Air France-KLM and British Airways Plc, were fined a total of 799 million euros ($1.11 billion) by EU antitrust regulators on Tuedsay for fixing cargo prices.

Shares of Cathay eased 0.45 percent in early trade on Wednesday, slightly better than a 0.83 percent drop in the broader market. ($1=.7270 Euro)
I've never really understood why big companies keep on fixing prices. Do they really expect to get away with it? Every now and then you find comapnies doing it.
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Old November 11th, 2010, 03:54 PM   #1985
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Rivals thick on the ground, but Cathay still rules the skies
12 November 2010
The Australian

CATHAY Pacific is Asia's biggest international airline and Hong Kong is the region's premier international aviation hub. Both will fight hard to keep it that way.

Maintaining that pre-eminence will be no mean feat as the airline business in Asia is bristling with competitors -- both airports and airlines.

A key to that is ensuring its flagship carrier, Cathay Pacific, remains in the top 10 of Asian airlines at a time when the industry is both booming and attracting low-cost newcomers.

Call it ``hub wars''. Every Asian metropolis wants to have a significant aviation hub; China, especially.

The Thais opened their new Suvarnabhumi Airport with the expressed intention of competing with Hong Kong and Singapore's Changi as an international hub in the region.

Long gone are the days of the ``Kai Tak heart attack'' -- referring to the sudden turn at just a few hundred metres above the roofs of apartment buildings needed for aircraft to line up for the old airport's only runway -- and Hong Kong as the only truly international airport on the China coast and one with limited aircraft capacity.

Before the opening up of China, passengers and freight in and out of mainland China went through Hong Kong.

Not any more.

Hong Kong now has its modern 24-hour airport on Chek Lap Kok, but it is dwarfed in passenger number terms by Beijing's international airport, and is still behind Tokyo. Passengers from around the world no longer have to fly into Hong Kong, catch a train to Guangzhou, and then fly to Beijing or Shanghai.

Now all the main international airlines service not only Beijing directly, but other cities including Guangzhou and Shanghai. More recently, regional airports have been attracting international flights -- Wuhan, Changsha, Xiamen and Nanjing among them.

Even after the initial opening up of China, travellers to and from Taiwan had to change in Hong Kong. No longer is that the case. China Airlines, Taiwan's global carrier, has direct flights from Taipei to 15 Chinese cities.

And these days, too, there is upstart across the Pearl River Delta, Macau International Airport.

Cathay Pacific, however, is still the largest international airline based in Asia. In total passenger numbers, it is dwarfed by China Southern, Japan Airlines, All Nippon Airways, China Eastern and Air China.

But those airlines still depend for the bulk of their business on domestic traffic; none yet approaches the 24.5 million international passengers carried each year by Cathay Pacific.

There was audible relief recently when Hong Kong's Chief Executive, Donald Tsang, made a pointed speech reinforcing the intention of his administration to maintain the special autonomous region as an international business centre, and with specific reference to airline and airport business.

As part of the fight to stay on top, Cathay Pacific is building a new air cargo terminal at Hong Kong's airport, costing $HK5.5 billion ($719 million), which will see cargo handling capacity increase by 50 per cent.

It is spending a further $HK75bn on 36 new aircraft, on top of the 30 due to arrive between now and 2013 and which will include 10 new Boeing 747s.

Cathay Pacific and Hong Kong itself are riding an aviation growth story in Asia. Air business in May for the Asia-Pacific region was up 17.5 per cent on the same month last year, driven mainly by China and India. There was a similar pattern for year-on-year figures for September: Cathay Pacific and its subsidiary Dragonair saw passenger numbers up by 18.4 per cent from 2009 and 9.6 per cent for air cargo.

The problem for airlines such as Cathay and airports such as Hong Kong is both rely entirely on international business, and the severe downturn in Europe is affecting cargo traffic in particular.

And then there is the challenge for passengers from low-cost airlines. Shanghai-based Spring Airlines has just launched a daily direct service to Hong Kong with an Airbus A320, its fares undercutting those of Cathay Pacific. Its website last month was showing Spring Airlines offering tickets for as low as $US118, which Bloomberg said was less than half that charged by Cathay and China Eastern on the same route.

Of course, the aviation hub in Hong Kong is about more than just Cathay Pacific.

Other airlines are expanding their operations, the most recent being Turkish Airlines which last month started twice-weekly freight flights between Istanbul and the SAR.

And Cathay Pacific is also expanding by dealing into more code-share arrangements. Now flights operated by Alaska Airlines to Portland and Seattle from Cathay's three west coast destinations of Los Angeles, San Francisco and Vancouver will carry the Hong Kong airline's ``CX'' code. Another code-share deal was clinched with WestJet, Canada's second-largest airline.
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Old November 12th, 2010, 04:35 PM   #1986
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Cathay Pacific Oct Passengers Up 14% On Year At 2.29 Millions

http://online.wsj.com/article/BT-CO-...12-706046.html

Cathay Pacific Oct Passengers Up 14% On Year At 2.29 Millions

HONG KONG (Dow Jones)--Cathay Pacific Airways Ltd. (0293.HK) said Friday it carried 14% more passengers in October than it did a year earlier, as international air traffic continued to grow in tandem with the global economic recovery.

The Hong Kong-based carrier and its China-focused unit, Hong Kong Dragon Airlines Ltd., carried 2.29 million passengers in October. Cathay Pacific also said it carried 15% more cargo than it did a year earlier, at 164,927 metric tons.

"Benefiting from a significant rise in capacity, passenger demand out of our key Hong Kong market remained robust, while the China market continued to perform strongly," said Tom Owen, general manager of revenue management.

Cathay Pacific's general manager of cargo sales & marketing, James Woodrow, added the peak season for cargo kicked in last month, with very strong demand out of Hong Kong on all major trunk routes, such as Japan and Australia.

For the month, Cathay Pacific's passenger revenue, as measured by revenue passenger kilometers, rose 13.8% to 8.31 billion RPKs, while capacity, as measured by available seat kilometers, rose 12.6% from a year earlier to 9.99 billion ASKs.

Cathay Pacific's passenger load factor, or the proportion of seats filled on its flights, rose 0.9 percentage point to 83.2%.

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Old November 15th, 2010, 05:06 PM   #1987
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Cathay Pacific says 2010 profit at least HK$12.5 bln

HONG KONG, Nov 15 (Reuters) - Cathay Pacific Airways Ltd , Hong Kong's flagship carrier, said on Monday that net profit for 2010 will be HK$12.5 billion ($1.6 billion) or more, as business rebounds following the global downturn.

The company posted a profit of HK$6.84 billion for the first half of the year, meaning it expects a profit of HK$5.66 billion or more in the second half.

"The favourable business trends being experienced in August have continued," Cathay Pacific said in a statement to the Hong Kong stock exchange. "Demand for passenger and cargo services has remained very strong and consequently revenues have remained at high levels."

Apart from its own operations, it said the forecast also reflected strong performances at Air China Ltd , China's flagship carrier in which Cathay holds a 19.3 percent stake, and one-time profits from the company's stake in two ventures.
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Old November 16th, 2010, 09:33 AM   #1988
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http://www.japantoday.com/category/e...e-about-haneda

Cathay Pacific positive about Haneda

Cathay Pacific Airways Chief Executive Tony Tyler says the airline is positive about increasing flights between Hong Kong and Haneda airport, which has just resumed full-fledged international operations.

‘‘We started with two flights a day, that’s a good start. And of course, as the market builds, we will be happy to see more flights between Haneda and Hong Kong,’’ Tyler said.

But he added it will not be so easy for the airline to add more flights on the route, saying, ‘‘I’m sure every airline will want more flights. I think there are already slot constraints, so one has to be realistic about the prospects for increasing frequencies.’‘

The air carrier has started offering two Haneda-Hong Kong round-trip flights, and operates five round-trip flights linking Narita airport, which is located roughly 60 kilometers east of central Tokyo, and Hong Kong.

Haneda, which started full-fledged international operations on Oct 31 for the first time in 32 years, is seen to enhance convenience for people in the Tokyo metropolitan area because of its proximity to central Tokyo, located about 15 kilometers south of central Tokyo.

Noting such a factor, Tyler said that the company expects Haneda will be ‘‘very successful,’’ adding, ‘‘We think particularly business travelers will greatly appreciate the service offered from Haneda.’‘

But Tyler stressed Narita will continue to be a ‘‘very important airport for Cathay Pacific’’ and the air carrier does not intend to decrease more flights at the airport after reducing one in late October.

‘‘With our five flights a day in Narita, we don’t want to reduce frequency to Narita,’’ he said.

Meanwhile, Tyler said the air carrier, a member of the oneworld aviation alliance, is willing to continue enhancing a cooperative relationship with its alliance partner Japan Airlines Corp through such measures as code-sharing flights.

‘‘We see this a very positive way of cooperating with our oneworld partner, and we look forward to building further cooperation as we go forward,’’ he said.

But regarding the struggling airline’s plan to boost its capital by 50 billion yen from private institutions in addition to the already set 350 billion yen investment by the government-backed Enterprise Turnaround Initiative Corp of Japan, the company will not join the scheme, he said.

‘‘Our philosophy is not to invest in other airlines outside the mainland China,’’ he said.
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Old November 16th, 2010, 02:35 PM   #1989
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Cathay pledges pay hikes with record profit set to land
16 November 2010
The Standard

Cathay Pacific Airways (0293) is promising employees pay rises and other perks, as the airline expects to reap record net profit for the 2010 fiscal year ending December 31.

``I can assure our hardworking staff that when the company is performing well, they will have a good share of the rewards, primarily through the company's profit share scheme,'' chief executive Tony Tyler said.

``Our policy is to reward staff during the good times through market-based salary increases, supplemented by profit sharing and year-end bonus, and make every effort to preserve their jobs during the bad times, as we did in the recent downturn and during SARS.''

Tyler added: ``We are expecting an outstanding financial result, following a very difficult period brought about by the global financial crisis.''

Hong Kong's de facto flag carrier forecasts 2010 full-year net profit of at least HK$12.5 billion _ more than doubling the previous year's HK$4.69 billion _ on robust demand for passenger and cargo services.

For the first half, Cathay posted interim net profit of HK$6.84 billion. In 2008, the airline suffered a record net loss of HK$8.56 billion, its first annual net loss since 1998.

While the carrier is assuring pay rises for staff, there is no clue at present how much more its workers will receive. Its flight attendants' union has been meeting with management seeking a concrete proposal of salary increments.

Cathay shares, closing yesterday down 0.23 percent at HK$22.05, have jumped 52.3 percent from HK$14.48 on December 31.
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Old November 16th, 2010, 07:29 PM   #1990
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http://www.cathaypacific.com/cpa/en_...0007d21c39____

Cathay Pacific announces year-end salary increment, 13th month payment and further profit share


Cathay Pacific Airways today announced the year-end salary increment for its Hong Kong-based staff together with details of a discretionary 13th month payment and a further profit share in light of the company’s continued strong performance this year.

The airline announced that eligible Hong Kong staff will receive an average salary increase in the range of 4 to 4.5%.

The company also confirmed that all eligible staff in Hong Kong will receive a discretionary 13th month payment together with their December salary payment. Barring adverse circumstances, staff can expect to receive a profit share of at least another three weeks’ salary after Cathay Pacific announces its full-year results next March, in addition to the two weeks paid in advance in August this year after the airline posted a record interim profit.

Cathay Pacific has seen a remarkable turnaround in its business in 2010, and on Monday issued a trading statement to the Hong Kong Stock Exchange advising its expectation that its full-year profit for 2010 will not be less than HK$12.5 billion following consistently strong demand on both the passenger and cargo sides of its business. The airline’s result will also be boosted by a significant contribution from its strategic partnership with Air China and the profits resulting from the sale of shareholdings in HAECO and Hactl earlier this year.

Cathay Pacific Chief Executive Tony Tyler said: “The nature of the airline industry has always been hugely volatile and our aim is to survive when times are bad and thrive when times are good.

“We have to take a similar approach to rewarding the team. When times are bad, our policy is to work to keep the team together – as happened during the recent downturn. When times are good, we will reward staff by sharing the gains.

“There is no question we are in good times now and we are delighted to reward our staff for a great effort in supporting us through the recent downturn and helping us to achieve what we expect will be a record profit in 2010. I believe this is a fair and reasonable arrangement and one that properly reflects the company’s gratitude for a great job done– and that also strikes the right balance between rewarding our talented team and acknowledging the unwavering support we have received from our shareholders through thick and thin over the last decade.”

Mr Tyler added that through the combination of profit share, discretionary 13th month payment and salary increments, staff will be significantly better off than they were last year. “This is just as it should be when our business is so strong,” he said, adding that the Local Staff Union has agreed to the package.


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Old November 16th, 2010, 07:31 PM   #1991
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^ First major corporate in town to announce bonus and salary hike!
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Old November 16th, 2010, 07:35 PM   #1992
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^ First major corporate in town to announce bonus and salary hike!
But I heard that the pilots will not get the raise, its only for the cabin crews & the management......
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Old November 16th, 2010, 07:36 PM   #1993
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But I heard that the pilots will not get the raise, its only for the cabin crews & the management......
Cabin crews are paid far less than the pilots so they probably need the money more.
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Old November 16th, 2010, 09:04 PM   #1994
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http://www.dragonair.com/da/en_HK/ab...000ad21c39____

Dragonair Announces Bonus, Profit Share and Salary Increment for 2011

Dragonair today announced that with its business performance remaining strong, all eligible staff will receive a Chinese New Year Bonus, based on one-month’s salary, to share in the success of the Company and in recognition of the team’s hard work and commitment. The payment will be made together with staff's January salary.

In addition, following the Group’s annual results announcement in March 2011, all eligible staff will, barring any adverse circumstances, also receive at least another three-weeks’ salary in profit share, in addition to the two weeks paid as an advance profit share in August this year.

The Company also announced an average salary increase of 4 to 4.5 per cent for 2011 for the majority of eligible Hong Kong-based ground staff. For crew members, their salary reviews will be conducted in early 2011.

"This has definitely been a special and very exciting year for Dragonair. At the same time as we celebrated 25 years of great achievements, our business enjoyed a strong rebound from the economic downturn of 2008 and 2009, with both our passenger and cargo businesses seeing a sharp rise in revenues," said Dragonair Chief Executive Officer James Tong.

“I’d like to thank everyone in the team for a determined effort. However, while we are certainly enjoying the good times now, we must always remember that the aviation business remains highly volatile and that good can turn to bad in a very short time. During business downturns, we work hard to keep our workforce intact; in a good year, we are happy to share in our achievements, and thank staff through a share of profit and the Chinese New Year Bonus.

“Our colleagues will be significantly better off compared to last year, which is just the way it should be when our performance is so strong.”
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Old November 17th, 2010, 05:16 AM   #1995
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^ I guess the delays from mainland airspace restrictions didn't weigh down on good performance and the salary hikes.
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Old November 18th, 2010, 08:43 AM   #1996
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Cathay cargo venture set to take off
18 November 2010
SCMP

An air-cargo venture expected to increase Cathay Pacific Airways' presence on the mainland could take off as early as next month, chairman Christopher Pratt said yesterday.

The venture between Cathay and Air China finally won approval from the Beijing government after months of delay, Pratt confirmed yesterday while attending Haeco's 60th anniversary celebration. Operations could start on January 1, if not next month.

Pratt stopped short of predicting the deal's impact on the earnings of Hong Kong's largest carrier - expected to hit a record HK$12.5 billion this year - but said he was optimistic about both cargo and passenger growth in the first quarter of next year.

Cathay Pacific sealed an agreement with its subsidiary Air China back in February to invest 1.7 billion yuan (HK$1.98 billion) in the latter's cargo unit.

Cathay will control 49 per cent of Air China Cargo, including a stake to be held by an offshore trust. It will inject four Boeing 747-400 freighters and two spare engines into the unit to pay for the transaction.

The airline said the joint venture would help it gain cargo traffic in the Yangtze River Delta, where cargo throughput has grown neck and neck with that in the Pearl River Delta.

Kelvin Lau Wai-kin, transport analyst of Daiwa Capital Market, said the deal may be more beneficial to Air China than Cathay.

"Obviously Cathay's major cargo business would still come from Hong Kong. It does not rely solely on the venture for its mainland cargo business as it has its own freighter routes there," Lau said. "Air China, on the other hand, could learn a lot from Cathay about the management and operation of the trade as few existing mainland airlines can handle the competition from experienced market players like UPS."

Cargo business accounts for about a fifth of Cathay's total sales but the proportion may grow when the first batch of 10 freighters ordered by the airline are delivered in the second half of next year.

Hong Kong International Airport, the busiest international air-cargo hub in the world, continues to make records with its cargo tonnage and aircraft movements.

Last month it handled 373,000 tonnes of cargo, up 15.5 per cent over the previous year, while passenger traffic jumped 11.9 per cent to 4.4 million.

Norman Lo Shung-man, the director-general of civil aviation, said daily aircraft movement was closing in on 1,000 trips. The capacity, he said, could be pushed to 1,200 to 1,300 trips per day through system and manpower enhancement.
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Old November 18th, 2010, 05:36 PM   #1997
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By sam6863 from a Hong Kong discussion forum :

image hosted on flickr
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Old November 18th, 2010, 07:39 PM   #1998
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Cathay Pacific Safety Video

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Old November 19th, 2010, 10:29 AM   #1999
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Cathay Pacific and Dragonair source new carbon offsets
5 November 2010
Airline Industry Information

Hong Kong based carrier Cathay Pacific Airways announced today that with its sister airline Dragonair it has purchased 30,000 tonnes of carbon-emission reductions from Climate Action.

The purchase from the carbon offset service provider Climate Action is for the airlines’ FLY greener offset programme.

Both Asian carriers regularly add to their inventory of carbon offsets as the previous year’s supply is retired, this is the third time new offsets have been purchased since the programme was launched in 2007.

Cathay Pacific and Dragonair were the first Asian airlines to introduce a carbon offset programme which offers the offsets on a non-profit basis to passengers wishing to offset their carbon emissions.

The new carbon offset project portfolio consists of a set of 95 small “run-of-river” hydropower stations in the provinces of Chongqing, Guizhou, Sichuan and Yunnan that link the electricity generated into the Pearl River Delta region.
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Old November 20th, 2010, 10:19 AM   #2000
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http://www.dragonair.com/da/en_HK/ab...000ad21c39____

Dragonair Named Best Airline Economy Class at 2010 Business Traveller China Awards

Dragonair is proud to be named ‘Best Airline Economy Class’ in the 2010 Business Traveller China Awards ceremony on 17 November.

This is another honour received by the carrier after receiving a roll of awards, namely the ‘World's Best Regional Airline’ award from Skytrax, the ‘Best Regional Airline’ award from the 21st Annual TTG Travel Awards and ‘2010 Asia Excellence Brand’ from Yanzhou Zhoukan over the last few months.

Launched in 2005, the Awards are classified in 32 categories, 10 for airlines, 21 for hotel and resort accommodation. Results of the annual readers voting exercise, now in its sixth year, were revealed at 2010 Business Traveller China Awards dinner ceremonies held on 17 November at Shanghai.

“Our sincere thanks go to readers of the Business Traveller China who voted for us. Mainland China is Dragonair’s core market, and we are particularly excited to be recognised by its frequent travellers. Dragonair is committed to provide the best service to our passengers. This award truly reflects our persistence in maintaining the highest service quality in the main cabins,” said Dragonair General Manager China Sam Swire.

"2010 is a fruitful year for Dragonair as we receive a series of awards. These are big recognition to the entire Dragonair team, from home and abroad, for their dedication to service excellence.” said Mr Swire.


Dragonair General Manager China Sam Swire (right) received the "Best Airline Economy Class" from the award presentation guest.

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