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Old September 16th, 2009, 02:48 PM   #1581
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Cathay Pacific Press Release:
Cathay Pacific agrees to sell part of equity stake in HAECO (Hong Kong Aircraft Engineering Company Limited)
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Old September 17th, 2009, 09:39 AM   #1582
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Originally Posted by hkskyline View Post
Cathay Pacific August Passengers Up 3.8% On Year At 2.21 Mln
14 September 2009

HONG KONG (Dow Jones)--Cathay Pacific Airways Ltd. (0293.HK) said Monday it carried 3.8% more passengers in August than it did in the same month last year, lifted by improved demand for air travel.

The Hong Kong-based airline and its China-focused unit, Hong Kong Dragon Airlines Ltd., carried 2.21 million passengers in August. The airline shipped 131,732 metric tons of cargo in August, 6.3% less than a year earlier.

It didn't provide year-earlier figures for comparison.

The airline's passenger capacity, as measured in available seat kilometers, or ASKs, fell 5% from a year earlier to 9.39 billion ASKs, while passenger revenue, as measured in revenue passenger kilometers, rose 1.9% to 7.89 billion RPKs.

The airline's passenger load factor for the month rose 5.7 percentage points to 84.1%.
???

Cathay provided the growth rate and the new figures, so how hard is it to calculate the last month's figures? Or am I missing something?
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Old September 17th, 2009, 10:31 AM   #1583
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Quote:
Originally Posted by siamu maharaj View Post
???

Cathay provided the growth rate and the new figures, so how hard is it to calculate the last month's figures? Or am I missing something?
You can probably dig up last year's figures on their website?
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Old September 21st, 2009, 12:26 PM   #1584
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Flight test for our top drop
21 September 2009
The Advertiser

WINE judge Roy Moorfield will next month sign off on an Australian wine destined to become the two-millionth bottle served on Cathay Pacific flights out of Australia.

The prominent wine judge has been tasting for the airline for the past 21 years, during which time the company's demand for Australian wine has grown from just 30,000 bottles in 1988 to a whopping 240,000 bottles last year.

Mr Moorfield and a judge from Hong Kong will next month begin the annual taste test to choose wines the airline will serve next year. ``We will do blind tastings of up to 600 Australian wines and then reduce that number to a few that we will then send up to Hong Kong for final selection,'' he said.

Mr Moorfield said sauvignon blanc and cool-climate shiraz were the drops of choice of the airline's passengers.
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Old October 6th, 2009, 11:53 AM   #1585
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Cathay Pacific Posts Best Weekly Passenger Loads
October 5, 2009
http://news.airwise.com/story/view/1254729480.html


Hong Kong carrier Cathay Pacific Airways on Monday said it posted last week its best weekly passenger load factor for 2009, but remained uncertain whether the improvement indicated a structural recovery.

"We had the best week so far this year," Cathay Pacific chief executive Tony Tyler told a media briefing ahead of the opening on Tuesday of a two-day international aviation environment exhibition.

"But what we are seeing here is the seasonal strength in the market. We managed to fill more flights but at a much reduced yield," he said, referring to improved traffic due to the start of China's week-long National Day holiday from October 1.

Tyler said it was too early to say whether the improvement indicated a structural recovery.

Cathay reversed its year-earlier loss to a net profit in the first half largely due to hedging gains.

Air traffic demand is recovering from the deep slump caused by the global recession but the industry remains well away from a return to profit, the International Air Transport Association (IATA) said late last month.

IATA said earlier it expected a loss of USD$11 billion for the industry in 2009 and a USD$3.8 billion loss in 2010.

Tyler, who is also the current chairman of IATA, said Cathay and other members of the aviation industry were aiming to cut carbon emissions from 2020, gradually reducing them to 50 percent of 2005 levels by 2050.

"Our targets are tough... aviation's emissions are expected to fall 7 percent in 2009 -- 5 percent as a result of the recession and 2 percent directly related to the strategy," IATA said in an official statement released at the briefing.

Paul Steele, IATA's director for aviation environment, said the biggest problem faced by the industry in achieving its carbon efficiency targets was the current lack of a government framework supporting them.

"Governments need to create a legal and fiscal framework to support pricing strategies, and offer incentives for the development of the right technology," he said.

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Old October 12th, 2009, 07:47 PM   #1586
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Cathay Pacific releases combined traffic figures for September 2009
12/10/2009
http://www.airtransportnews.aero/article.pl?id=19799


Cathay Pacific Airways today released combined Cathay Pacific and Dragonair traffic figures for September 2009 that show a decrease in passenger numbers and cargo and mail tonnage compared with the same month last year.
Cathay Pacific and Dragonair carried a total of 1,840,082 passengers in September – down 2% against the same month in 2008 - while capacity for the month, measured in available seat kilometres (ASKs), was down by 9.7%. The month’s load factor was up 7.9 percentage points to 80.2%. For the first nine months of the year, the number of passengers carried has fallen by 3.8% compared to a capacity decline of 3.9%.

The two airlines carried a total of 133,301 tonnes of cargo and mail last month, down 5.8% on September 2008, while the cargo and mail load factor rose by 7.9 percentage points to 74.40%. Capacity for the month, measured in available cargo/mail tonne kilometres, was 13.6% down. For the first nine months of the year, tonnage has fallen by 12.3% against a capacity reduction of 13.9%.

Cathay Pacific General Manager Revenue Management Tom Owen said: “September saw a welcome seasonal upturn in demand for premium traffic with an improved share of the overall business, but at volumes and yields still well below previous years. Several special events including Indonesian Lebaran and the Japanese silver week holidays helped boost regional leisure demand for the month. Reduced capacity, especially on some long haul routes, provided the context for the higher load factors and improved efficiency levels on several routes compared to the recent past."

Cathay Pacific General Manager Cargo Sales & Marketing Titus Diu said: “The trend of plummeting yields that began in fourth quarter 2008 and continued through second quarter of 2009 has stopped as volumes have strengthened. We have experienced a gradual improvement in both volume and yield, albeit from a low base. However, it is still too soon to say whether these improvements are the beginning of a sustained recovery.”

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Old October 13th, 2009, 07:34 AM   #1587
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It seems that the market outlook for Aviation industry is still unstable.
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Old October 14th, 2009, 08:16 PM   #1588
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By VRHNA from HKADB :

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Old October 15th, 2009, 11:10 AM   #1589
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Stopover allowance part of pay, Cathay appeal told
14 October 2009
South China Morning Post

Allowances paid to cover airline flight attendants' expenses during their stays overseas between flights are part of their wages and should be taken into account in calculating their holiday pay, a court has been told.

The argument came during the hearing of the appeal by three Cathay Pacific flight attendants against a Labour Tribunal ruling that excluded their "outports allowance" from their wages.

Under their employment contracts, the allowance includes overnight, meal and laundry allowances paid according to the rates laid down in the company's operation manual.

Becky Kwan Siu-wa, Vera Wu Yee-mei and Jenny Ho Kit-man want the amounts added to the base from which their holiday pay is calculated.

Barrister Erik Shum Sze-man, for the flight attendants, argued in the Court of First Instance yesterday that the payment was a "non-accountable allowance" that was based on a pre-estimate of their expenses and no receipts were required.

He told Mr Justice William Stone that the Employment Ordinance required all allowances, excluding "special expenses", to be considered as part of wages. He said the outports payment was not regarded as "special expenses" and was therefore part of their wages. He said attendants' wages should be calculated daily because they did not have a fixed monthly rate and were paid depending on their flight patterns.

For Cathay, Ashley Burns SC countered that the outports payments should not be part of wages because they were paid irregularly and it was impossible to calculate them on a daily basis. He said the outports payments should not be regarded as wages as they were paid to defray attendants' expenses during stopovers when they were off duty.

Stone reserved his judgment.

In January, the Labour Tribunal held that the line-duty and ground-duty allowances, which were paid on top of the attendants' normal salary according to the hours they worked, should be counted in when the company calculated their holiday pay because the allowances were paid as part of their daily work.

But the tribunal said the outport allowances should be excluded because they were sums "payable to the employee to defray special expenses incurred by him by the nature of his employment".

More than 4,000 similar claims lodged with the tribunal, believed to total more than HK$400 million, are awaiting Stone's ruling.
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Old October 17th, 2009, 08:19 AM   #1590
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Cathay comes under fire for raising fuel-hedging contracts
Shareholder blasts firm for increasing stakes as oil prices rose

17 October 2009
South China Morning Post

Cathay Pacific Airways came under fire in a shareholders' meeting yesterday for increasing its fuel hedging in June last year, a decision that cost the airline billions in paper losses.

A shareholder, who claimed himself a loyal passenger of the carrier, said it was painful to see Cathay losing so much money by increasing its fuel-hedging position at a time when oil prices were surging.

"The management made a very bold decision in fuel-hedging activities at that time," the investor said at the meeting.

Fuel-hedging contracts, which were once considered a tool to help airlines solve the problem of volatile oil prices, have emerged as the problem itself.

If Brent crude oil stays above US$70 per barrel on average this year, Cathay will see a cash outflow of around US$350 million (HK$2.7 billion) for the settlement of hedging contracts.

In the first half, the carrier has already paid HK$2.87 billion for the contracts. This cash settlement was settled as a paper loss last year.

Analysts said that many of the fuel-hedging contracts were not designed for airlines but for their counterparties - the investment banks.

Zero-cost hedging contracts, which Cathay and other mainland carriers deployed to hedge against jet fuel costs, could only provide limited protection for airlines when oil prices went up but created unlimited downside to the carriers when oil prices went down, said Kelvin Lau Wai-kin, transport analyst at Daiwa Securities SMBC.

"The so-called zero-cost contract is a sugar-coated toxic pill for airlines when oil prices are volatile," Lau said.

In three-way hedging, or the so-called collar-hedging contracts, an airline will lose protection from the rising oil price if the price moves beyond a certain level.

However, when the price falls below the strike price of the put option sold by the airline, the loss would be unlimited.

The only advantage of this kind of three-way hedging is that no up-front money is needed to be paid by airlines. Cathay has indicated that it would use more simple hedging contracts instead of collar hedging after booking a HK$7.6 billion paper loss for contracts last year.

However, few airlines in the world could totally avoid hedging as jet fuel is the largest operating cost for carriers. They could only choose when and how to hedge and try to make the best educated guess on which direction oil prices would go.

"Few airlines dare to be the maverick in not hedging because it has been an industry-wide practice for a long time," Lau said. "If you lose because of hedging, you can point your fingers at other carriers{hellip} but if you lose because of not doing it, you only have yourself to blame."

John Slosar, chief operating officer of Cathay, said yesterday the carrier would control its hedging position at a reasonable level.

He also claimed that the losses incurred by Cathay over the past one to two years were not the worst.

Air France had lost triple the amount, he added. And Singapore Airlines would have lost more than Cathay if it used the mark-to-market accounting standard.
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Old October 17th, 2009, 08:27 PM   #1591
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By Chengyu1995.cpa from HKADB :













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Old October 20th, 2009, 05:48 PM   #1592
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Source : http://www.fotop.net/leosarea/





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Old October 20th, 2009, 09:28 PM   #1593
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Love the pics.

Just curious, how far is the airport from the heart (which I guess is subjective) of Hong Kong? Can you see the skyline when you fly in and fly out?
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Old October 21st, 2009, 03:23 AM   #1594
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Quote:
Originally Posted by Minna View Post
Love the pics.

Just curious, how far is the airport from the heart (which I guess is subjective) of Hong Kong? Can you see the skyline when you fly in and fly out?
If you are taking off and heading Northeast, sitting on the right hand side you will see the main skyline (HK Island and Kowloon). The airport is 20mins from the heart of HK by train and approximately 35 by car/bus.

You cross three bridges and two tunnels (1 underwater) to get to HK Island from the airport.
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Old October 22nd, 2009, 04:56 AM   #1595
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Cathay Pacific appoints new country manager for Indonesia
19 October 2009
The Jakarta Post

Bradshaw replaced Vincent Li, who has been transferred to become the managing director of Cathay Pacific Holidays Hong Kong. Joining Swire Group as a management trainee in 1995, Bradshaw has been involved in sales, marketing and country management for Cathay Pacific Airways and John Swire & Sons since.

Prior to his assignment in Indonesia, Bradshaw worked for Cathay Pacific in the Middle East, Malaysia, Brunei and Italy.

He was born in Great Britain and holds a bachelor's degree in philosophy and theology from St Peter's College, University of Oxford. - JP
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Old October 23rd, 2009, 07:12 PM   #1596
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By birdy5438 from a Hong Kong discussion forum :











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Old October 25th, 2009, 07:20 AM   #1597
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By cktse from HKADB :

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Old October 27th, 2009, 05:30 PM   #1598
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Cathay Pacific Extremely Low Fly (777-300ER)
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Old October 27th, 2009, 05:49 PM   #1599
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Wow... that's the unauthorized low-fly by at Boeing a few years ago, and cost the job of a captain, if I remembered correctly.
looked like the tail was no more than 10 feet off the runway... it's scarily low...
a sudden cross-wind could have crashed the brand new plane...
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Old October 29th, 2009, 10:04 AM   #1600
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HK OKs Cathay Pacific's Plan To Maintain Fuel Surcharges In November
23 October 2009

HONG KONG (Dow Jones)--The Hong Kong government said Friday it has granted Cathay Pacific Airways Ltd.'s (0293.HK) request to extend passenger fuel surcharges at current levels for another month.

The Civil Aviation Department said in a statement it also approved Nepal Airlines' request to extend surcharges for the month of November.

The government earlier said it will review passenger fuel surcharge applications from airlines on a monthly basis instead of a bimonthly basis, to enable airlines to quickly adjust their surcharges in tandem with changes in jet fuel prices.

Cathay Pacific's fuel surcharge for short-haul flights within Asia will remain at HK$71 per journey in November, and the surcharge for long-haul flights will be unchanged at HK$328.
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