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Old March 24th, 2017, 07:23 PM   #3421
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Looks like the glory days of Cathay Pacific are over.
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Old March 25th, 2017, 03:33 PM   #3422
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Old March 26th, 2017, 01:56 PM   #3423
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South China Morning Post Excerpt
European Commission fines Cathay Pacific €57m for cargo surcharges
EC reinstates fine that had been annulled and refunded seven years ago, citing new findings the airline breached Europe’s competition law
20 March 2017

The European Commission has slapped a €57.12 million (HK$476 million) fine on Cathay Pacific Airways, reinstating a penalty seven years ago that was overturned, accusing the carrier, along with 10 peers, of breaching Europe’s competition law with its cargo surcharges.

In a statement on Friday, EU antitrust regulators said they had re-adopted its decision on the 11 carriers, including Air France and British Airways, for “operating a price–fixing cartel”, and imposed fines totaling €776 million.

The cartel consisted of numerous contacts between airlines, at both bilateral and multilateral level to fix the level of fuel and security surcharges.

Cathay shares slid 0.7 per cent to close at HK$11.2 on Monday after revealing the fine at Hong Kong Exchange on Sunday afternoon.

“Cathay Pacific is reviewing the new decision and evaluating its options with its legal advisers,” the carrier said in a statement to the Hong Kong bourse.
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Old March 27th, 2017, 07:54 PM   #3424
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Cathay Pacific and Lufthansa Group sign co-operation agreement
https://www.cathaypacific.com/cx/en_...agreement.html
http://newsroom.lufthansagroup.com/e...17/q1/410.html
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Old March 29th, 2017, 12:28 PM   #3425
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I would like to know what is the current fate of the last few of Cathay Pacific's passenger Boeing 747-400? Are they going to scrap or heading to another airline?
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Old March 30th, 2017, 02:56 PM   #3426
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Quote:
Originally Posted by bagus70 View Post
I would like to know what is the current fate of the last few of Cathay Pacific's passenger Boeing 747-400? Are they going to scrap or heading to another airline?
I recall seeing photos of the planes getting scrapped.
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Old April 1st, 2017, 06:36 AM   #3427
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Cathay targets HK$4b in savings over three years
March 31, 2017
South China Morning Post Excerpt

Cathay Pacific Airways, one of Asia’s biggest international airlines, is seeking HK$4 billion in savings over the next three years, with HK$2 billion targeted for this year, a major shareholder has disclosed.

In the first cost-saving target made public, Air China, which has a 30 per cent stake in Hong Kong’s flag carrier, backed Cathay Pacific to turn the business around. Analysts also welcomed the target, but one questioned whether it could be achieved.

Until Friday’s disclosure by Air China, Cathay had declined to put a figure on its planned cuts.

The airline started a three-year restructuring exercise, the biggest shake-up in 20 years, after it lost HK$575 million last year.

Part of the plan already announced would see management jobs cut, a pay freeze for managers, all non-critical recruitment halted and a 30 per cent cut in staff costs at its headquarters.

Cathay Pacific earned HK$92.7 billion last year, but expenses came in at HK$93.2 billion, leading to the loss.

The savings target, excluding fuel and hedging costs, amounts to 4.3 per cent of last year’s outgoings.

Xiao Feng, Air China’s chief financial officer and a non-executive director on the Cathay board, told analysts on a conference call on Friday: “It’s a feasible cost-restructuring plan. It will contribute to HK$4 billion in savings in the next three years and HK$2 billion this year.

More : http://www.scmp.com/news/hong-kong/a...er-three-years
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Old April 4th, 2017, 07:25 PM   #3428
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Man arrested at Heathrow after boarding plane without passport or ticket
4 Apr 2017
Metro Excerpt

A man was arrested at Heathrow airport last night after he boarded a plane without a passport or a ticket.

The suspect, who is being held by police, got on the Cathay Pacific flight for Hong Kong at around 7pm.

The aircraft was immediately evacuated.

He is being held on suspicion of being unlawfully airside.

Passengers were not allowed to re-board for 90 minutes while checks were underway.

A Heathrow spokesman said: ‘Yesterday evening a flight to Hong Kong experienced a minor delay after a passenger was found to have incorrect travel documents.

Read more: http://metro.co.uk/2017/04/04/man-ar...#ixzz4dIa9Yx00
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Old April 6th, 2017, 06:27 PM   #3429
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Cathay Pacific’s Manchester service to go daily from December
Press Release Excerpt
6 Apr 2017

Cathay Pacific today announced that its current four-times-weekly Hong Kong to Manchester service will become a daily operation from 1 December 2017.

Having announced in March that it would be increasing the number of weekly flights to the northern English city to six by the end of the year, the airline is boosting frequency further in response to growing customer demand.

From June onwards, the Airbus A350-900 will replace the Boeing 777-300ER on all flights to Manchester, making it the second Cathay Pacific destination in the UK, after Gatwick, to receive the technologically-advanced aircraft.

Cathay Pacific Director Corporate Development and IT Paul Loo said: “We have been delighted by the popularity of our Manchester route ever since its launch in December 2014 and our frequency increases are a direct result of us responding to the needs of our customers. The enhanced schedule will provide business and leisure travellers with more choice and greater flexibility in planning their trips for added convenience, while at the same time strengthening Hong Kong’s position as Asia’s leading aviation hub.”

Cathay Pacific, already the largest operator of flights between Hong Kong and the UK, is committed to growing its reach in its longest serving long-haul market. The airline serves London Heathrow with five daily flights, while Gatwick, currently a four-times-weekly service, will go daily from 1 June.
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Old April 12th, 2017, 04:25 PM   #3430
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Cathay Pacific boss Ivan Chu to be replaced by Rupert Hogg in management shake-up
The company last year reported a loss of HK$575 million (US$74 million), and has been struggling as a premium airline in the face of stiff competition
April 12, 2017
South China Morning Post Excerpt

Cathay Pacific Airways will replace Ivan Chu Kwok-leung, its chief executive for three years, with chief operating officer Rupert Hogg on May 1, Hong Kong’s loss-making flagship carrier announced on Wednesday.

Hogg takes over as CEO at a time when the airline is undergoing a major overhaul of its business after reporting a loss of HK$575 million last year.

Cathay has been struggling as a premium airline in the face of stiff competition from new aviation players, including budget and Middle East carriers.

The Post broke the news on Wednesday afternoon as hundreds of Cathay staff gathered at the airline’s Lantau headquarters for a sudden town hall meeting. The leadership reshuffle was announced at the meeting after the stock market closed at 4:30pm.

John Slosar, chairman of parent company Swire Pacific, paid tribute to Chu, who will remain with the Swire Group and shift to its mainland business as chairman of John Swire & Sons (China).
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Old April 13th, 2017, 01:52 PM   #3431
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Source : http://pic.feeyo.com/posts/647/6477409.html

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Old April 23rd, 2017, 05:38 PM   #3432
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Cathay Pacific releases combined traffic figures for March 2017
Press Release Excerpt
19 Apr 2017

Cathay Pacific Airways today released combined Cathay Pacific and Cathay Dragon traffic figures for March 2017 that show a decrease in the number of passengers carried and an increase in cargo and mail uplifted compared to the same month in 2016.

Cathay Pacific and Cathay Dragon carried a total of 2,851,661 passengers last month – a decrease of 3.7% compared to March 2016. The passenger load factor dropped 1.1 percentage point to 82.8%, while capacity, measured in available seat kilometres (ASKs), increased by 0.3%. In the first quarter of 2017, the number of passenger carried declined by 1.2% while capacity fell by 0.4%.

The two airline s carried 181,189 tonnes of cargo and mail last month, an increase of 15.4% compared to the last corresponding period. The cargo and mail load factor rose by 7.3 percentage points to 70.3%. Capacity, measured in available cargo/mail tonne kilometres, was up by 3.3% while cargo and mail revenue tonne kilometres (RTKs) increased by 15.4%. In the first quarter of the year, the tonnage rose by 11.4% against a 1.7% increase in capacity and a 9.4% increase in RTKs.

Cathay Pacific General Manager Revenue Management Patricia Hwang said: “Passenger demand during the traditionally slow season between the Chinese New Year and Easter holidays declined, with our North American routes continuing to come under pressure. Our North East Asia routes performed well on the whole, although Korea was slightly impacted by the political situation there. Our new route to Tel Aviv, which was launched during the month, proved to be a bright spot and has been very well received with strong demand. Easter bookings are ahead of 2016, with strong demand out of Hong Kong. Looking ahead, the market environment remains highly competitive and yield remains a major concern.”
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Old May 6th, 2017, 04:08 AM   #3433
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Cathay Pacific Cargo to wet-lease two Boeing 747-8 freighters from Atlas Air Worldwide to support expanding services
Press Release Excerpt
3 May 2017

Cathay Pacific Cargo today announced it has reached agreement with Atlas Air Worldwide Holdings, Inc., a leading global provider of outsourced aircraft and aviation operating services, to wet-lease two Boeing 747-8 Freighters from May 2017 to support its airfreight operations.

The two freighters, which will be operated by Atlas Air through an aircraft, crew, maintenance and insurance (ACMI) service agreement, will be deployed to supplement capacity on Cathay Pacific Cargo’s existing network.

Cathay Pacific Director Cargo Simon Large said: “This agreement underscores the strength of our cargo operations and our commitment to enhance the frequency of our services across our expanding global network. We are very pleased to be able to provide our customers with increased options, flexibility and convenience and look forward to developing a long-term partnership with Atlas Air Worldwide.”

William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide, said: “Cathay Pacific is a prominent global airline and a standout performer in the airfreight market. We are delighted to work with Cathay Pacific’s cargo division to facilitate the strong growth of its global network. With two of our next-generation -8 freighters – offering greater performance in payload, fuel efficiency and total cost per tonne-mile – in service for Cathay Pacific Cargo, we look forward to supporting the airline as it takes advantage of the market opportunities before it.”
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Old May 15th, 2017, 06:21 PM   #3434
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Air Hong Kong / DHL B747-400BCF B-HOU departing Hong Kong one last time by Jaws300, on Flickr
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Old May 17th, 2017, 03:35 AM   #3435
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Cathay Pacific releases combined traffic figures for April 2017
Press Release Excerpt
16 May 2017

Cathay Pacific Airways today released combined Cathay Pacific and Cathay Dragon traffic figures for April 2017 that show an increase in both the number of passengers carried and the volume of cargo and mail uplifted compared to the same month in 2016.

Cathay Pacific and Cathay Dragon carried a total of 3,003,972 passengers last month – an increase of 3.2% compared to April 2016. The passenger load factor grew by 1.5 percentage points to 86.4%, while capacity, measured in available seat kilometres (ASKs), increased by 4.8%. In the first four months of 2017, the number of passenger carried declined by 0.1% while capacity rose by 0.9%.

The two airlines carried 163,473 tonnes of cargo and mail last month, an increase of 10.7% compared to the same month last year. The cargo and mail load factor rose by 2.2 percentage points to 65.7%. Capacity, measured in available cargo/mail tonne kilometres, was up by 2.6% while cargo and mail revenue tonne kilometres (RTKs) increased by 6.2%. In the first four months of 2017, the tonnage rose by 11.2% against a 1.9% increase in capacity and an 8.6% increase in RTKs.

Cathay Pacific General Manager Revenue Management Patricia Hwang said: “Passenger numbers in April were boosted by strong Easter holiday traffic out of Hong Kong. Volumes rose ahead of the increase in capacity, which is highlighted by a rise in the load factor. Overall, demand for regional travel remained strong throughout the month. Our Tel Aviv route, which we launched in March, has got off to a good start and has been very well received by our customers.
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Old May 22nd, 2017, 03:20 PM   #3436
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Under New CEO, Cathay Cuts Jobs in Biggest Revamp in 20 Years
Bloomberg Excerpt
May 22, 2017

Cathay Pacific Airways Ltd., Asia’s biggest international airline, will eliminate 600 jobs in Hong Kong as part of the biggest revamp in two decades following its first loss in eight years.

The majority of affected employees will be informed Monday and over the next month, with most of the restructuring completed by the end of 2017, Cathay said in a statement Monday. No frontline employees, pilots or cabin crew will be affected, it said. Cathay, its affiliate airlines and businesses employed about 33,000 people as of June 2016.

Despite booming demand for air travel in Asia, Cathay Pacific and Singapore Airlines Ltd. are among premium carriers in the region reeling under intense competition from low-cost carriers, Chinese mainland rivals and Middle-Eastern operators such as Emirates. Singapore Air last week reported a surprise loss and announced a “wide-ranging review” of its business as well.

“Everyone is becoming more and more cost conscious,” said Andrew Lee, an analyst at Jefferies in Hong Kong. “To be able to survive, they need to control costs. I think it is a start,” he said, referring to Cathay.

Cathay will also restructure its cargo department by removing the role of cargo director.

Shares of the Hong Kong-based carrier rose 2.3 percent to HK$11.58 on Monday. The stock has gained 14 percent this year, compared with a 13 percent advance in the Bloomberg Asia Pacific Airlines Index.

Cathay is in the midst of a three-year reorganization program after reporting its first annual loss in eight years for 2016, in part from a fuel-hedging bet gone wrong.

“We’ve had to make tough but necessary decisions for the future of our business and our customers,” Rupert Hogg, who became chief executive officer on May 1, said in the statement. “We will have a new structure that will make us leaner, faster and more responsive to our customers’ needs. It is the first step in the transformation of our business.”

The job cuts will involve 190 managerial positions, representing 25 percent of management, Cathay said. It will eliminate an additional 200 jobs, mostly from junior ranks, the South China Morning Post reported Monday separately.
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Old May 28th, 2017, 06:13 PM   #3437
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Old June 7th, 2017, 06:27 PM   #3438
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Japan-bound Cathay Dragon plane forced to return to Hong Kong due to missing chart
Document contained information on airport layout, arrival and departure procedures; airline and Civil Aviation Department looking into incident
June 6, 2017
South China Morning Post Excerpt

A Cathay Dragon charter plane for Komatsu, Japan had to turn around mid-flight because the pilot was missing a crucial document.

Flight KA8348, carrying 155 passengers, departed from Hong Kong International Airport at at 9.25am on June 1 and was expected to reach its destination at 2.30pm the same day.

But it had to return after the pilot realised that the required approach chart for Komatsu Airport was not available.

The plane resumed its journey later in the day, arriving in the Japanese city at 6.38pm, more than four hours later than scheduled.

Cathay Dragon is conducting an internal investigation, a spokesman said, added that the Hong Kong Civil Aviation Department had been informed.
It apologised to the passengers affected.

The Civil Aviation Department said that the flight, which left Hong Kong at 11.16am, had asked to return due to not having the chart. It landed at HKIA at 12.46pm. The department will follow up on the case.
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Old June 15th, 2017, 06:09 PM   #3439
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Old June 22nd, 2017, 04:08 PM   #3440
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Cathay Pacific releases combined traffic figures for May 2017
Press Release Excerpt
15 Jun 2017

Cathay Pacific Airways today released combined Cathay Pacific and Cathay Dragon traffic figures for May 2017 that show a slight decrease in the number of passengers carried and an increase in cargo and mail uplifted compared to the same month in 2016.

Cathay Pacific and Cathay Dragon carried a total of 2,849,475 passengers last month – a decrease of 0.5% compared to May 2016. The passenger load factor grew by 0.2 percentage points to 84.2%, while capacity, measured in available seat kilometres (ASKs), increased by 1.5%. In the first five months of 2017, the number of passenger carried declined by 0.2% while capacity rose by 1.0%.

The two airline s carried 161,743 tonnes of cargo and mail last month, an increase of 11.5% compared to the same month last year. The cargo and mail load factor rose by 4.1 percentage points to 66.3%. Capacity, measured in available cargo/mail tonne kilometres, was up by 1.2% while cargo and mail revenue tonne kilometres (RTKs) increased by 8.0%. In the first five months of 2017, the tonnage rose by 11.3% against a 1.8% increase in capacity and an 8.4% increase in RTKs.

Cathay Pacific General Manager Revenue Management Patricia Hwang said: “May is traditionally one of the slower months of the year, and we saw a weakening in passenger demand for regional leisure travel after the Easter holiday period. On a brighter note, there has been an uptick in demand for premium class travel. Traffic on long-haul routes remained robust in May. Our Tel Aviv flights, which were launched in March, continued to perform well. We will start a seasonal service to Barcelona this summer, which we expect to prove popular with our customers. Meanwhile, yield continues to come under intense pressure in the face of competition.”
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