Articles tagged “cathay pacific”

Cathay Pacific Reports Worst First-Half Loss in Two Decades

Cathay Pacific Reports Worst First-Half Loss in Two Decades

Dong Lyu, Kyunghee Park, and Daniela Wei, Bloomberg

Cathay Pacific has too much capacity and too high of a cost structure given dropping fares on many routes. Some analysts float the idea of a takeover by Air China.

5 hours ago

Cathay Pacific Needs to Do Something Drastic to Win Back Customers

Cathay Pacific Needs to Do Something Drastic to Win Back Customers

Bloomberg

Competition from mainland China means that Cathay Pacific's Hong Kong location is no longer a major asset. If its fortunes continue to decline it will surely emerge as a takeover target for shareholder Air China.

3 days ago

New Cathay Pacific CEO Admits ‘Disappointing’ First Half Financial Performance

New Cathay Pacific CEO Admits ‘Disappointing’ First Half Financial Performance

Kyunghee Park, Bloomberg

There will be no easy fixes at Cathay Pacific. The airline not only faces intense competition from low-cost airlines, but also from full-service carriers in China and the Middle East. Fares have been falling for years in many of its markets. In many city-pairs, there is too much capacity.

1 month ago

Cathay Cuts 600 Jobs as It Tries to Get Costs Under Control

Cathay Cuts 600 Jobs as It Tries to Get Costs Under Control

Bloomberg News, Bloomberg

It might please investors to cut jobs but Cathy Pacific's problems run much deeper. It needs to work out where it fits in an airline environment that is rapidly changing.

3 months ago

Cathay Pacific Needs to Get in the Low Cost Carrier Game

Cathay Pacific Needs to Get in the Low Cost Carrier Game

David Fickling, Bloomberg

Cathay Pacific has had years to watch low cost airlines steal share from European legacy carriers. Asia has been a little behind Europe, but it's increasingly clear that Asian travelers also demand cheap flights with few frills. Cathay needs to give customers what they want, or it will be in trouble.

3 months ago

Cathay Pacific’s New CEO Outlines Three-Year Business Transformation Program

Cathay Pacific’s New CEO Outlines Three-Year Business Transformation Program

Bloomberg

Cathay urgently must cut management costs and must compete more effectively against budget carriers. Qantas has proven that legacy airlines can be reformed. But Cathay's new CEO must display some fresh thinking — and fast.

4 months ago

Cathay Pacific Names New CEO After Financial Setback

Cathay Pacific Names New CEO After Financial Setback

Bloomberg

Faced with competition from low-cost carriers and Chinese airlines amidst a decline in business travel, something had to give at Cathay Pacific -- and it just did with a change in CEOs.

4 months ago

Qantas Benefits From Competitive Chinese Airfares

Qantas Benefits From Competitive Chinese Airfares

Angus Whitley and Matthew Winkler , Bloomberg

As low-cost carriers consider growth, especially in the Asia-Pacific region, more established airlines like Qantas are placing more attention on their domestic routes instead.

4 months ago

Cathay Pacific Must ‘Adapt’ to Keep Pace, a Rival Airline CEO Says

Cathay Pacific Must ‘Adapt’ to Keep Pace, a Rival Airline CEO Says

Kyunghee Park , Bloomberg

Qantas CEO Alan Joyce made some tough — and unpopular decisions — as he tried to improve his carrier's financial health. Cathay Pacific is going to have to do the same. This may cause some tension for customers and employees.

5 months ago

Cathay Pacific’s Fortune Is Inextricably Tied to Popularity of Hong Kong Tourism

Cathay Pacific’s Fortune Is Inextricably Tied to Popularity of Hong Kong Tourism

Kyunghee Park and Dong Lyu, Bloomberg

Cathay Pacific's crisis illustrates the intricate balance between airlines and tourism marketing.

5 months ago

Singapore Airlines and Cathay Pacific Once Dominated Asian Skies but There’s a New World Order

Singapore Airlines and Cathay Pacific Once Dominated Asian Skies but There’s a New World Order

David Fickling , Bloomberg

Cathay Pacific and Singapore Airlines were once two of the world's most iconic airlines. They're still good at what they do, but they face new threats from both discounters and opulent Middle Eastern Airlines. And neither seems to know exactly how to respond.

7 months ago

Cathay Pacific Will Engage in a Major Cost Cutting Program

Cathay Pacific Will Engage in a Major Cost Cutting Program

Kyunghee Park, Dong Lyu and Prudence Ho, Bloomberg

Some of Asia's largest airlines are slow to embrace change, but Cathay Pacific is finding it has no choice. It must be more competitive in this new landscape, in which customers are defecting to other airlines in greater numbers.

7 months ago