A slump is a good time to make smart investments for the long term, not play musical chairs with executives.
A few years ago, hedging fuel was a smart strategy. But with fuel pricing dropping, fuel hedging is becoming a liability.
Profits are high, but it's not an easy time for full-service Southeast Asian airlines. Cathay Pacific and Singapore are getting squeezed by both budget carriers and ultra-luxury Gulf airlines.
Fewer passengers than expected and rising crude oil prices are making this a very turbulent year for Asia's largest international carrier by passenger load.
Gourmet meals for first-class and business-class flyers are nothing new, but these airlines are taking their offerings to new heights in an effort to win over hungry, big-spending, and food-minded flyers.
Cathay Pacific admits that its pay practices didn't keep up with changes in French law over the years. Sounds like the airline fell asleep at the wheel, so to speak.
By avoiding abrupt changes, and ensuring a consistent design, at all customer touch-points, Cathay Pacific demonstrates the inherent value and long-life of a carefully curated brand. It is that consistency that makes Cathay's at-home-on-the-road passenger experience authentic.
We'll see a shift in influence over the next two decades as hubs in cities like London, Hong Kong, and New York that aren't able to keep up with change are left behind by destinations that can.
It's only a matter of time until American Airlines follows suit.
There is nothing harder than keeping things simple.