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Strong performance at Cathay Pacific

5 August 2010 Airline News

Hong Kong airline Cathay Pacific has said it expects performance to improve further in the second half of financial 2010 after reporting record profits for the past six months. The buoyant airline has also confirmed the order of 30 aircraft from Airbus, while exercising an option to acquire a further six from Boeing.

Cathay Pacific set to offer full broadband

Cathay Pacific Airways is set to become the first airline in Asia to offer full broadband services on all flights following a deal with Panasonic. The pair have signed a memorandum of understanding for the provision of services, with passengers now expecting to access the Panasonic Avionics’ Global Communications Suite from 2012.

Cathay Pacific to introduce new travel kits

Cathay Pacific to introduce new travel kits

14 May 2010 Press Release Airline News

Cathay Pacific Airways will be introducing a new range of travel kits for Business Class passengers travelling long haul from mid-May onwards, featuring a new design by renowned French fashion brand agnès b., with products from two leading US skin care companies - Murad and Dermalogica.

OFT launches Virgin Atlantic price fixing probe

OFT launches Virgin Atlantic price fixing probe

23 April 2010 Airline News

Virgin Atlantic faces an Office of Fair Trading investigation into its pricing strategy for passengers on its London to Hong Kong service, following a Cathay Pacific decision to blow the whistle on alleged price collusion on the route. Virgin denies the allegations and plans to a “robust” defence.

Cathay Pacific returns to profit

10 March 2010 Airline News

Cathay Pacific has seen a sharp increase in share prices this morning, following the release of better than expected financial results for 2009. Cuts in capacity, fuel hedging gains and the sale of a stake in the Hong Kong Aircraft Engineering Company have all bolstered performance.

Air China raises stake in Cathay

18 August 2009 Airline News

China’s flag carrier Air China has raised its stake in Cathay Pacific from 17.5% to 29.99% - just below the takeover threshold – in a deal worth HK$6.3bn (US$813m).

Cathay swings into profit

5 August 2009 Airline News

Fuel-hedging gains have helped Cathay Pacific swing into profit for the first half of 2009, despite a 27 percent slump in revenue. The airline reported a net profit of HK$812m (US$104.8m) for January-June, compared with a loss of HK$760m a year earlier.

Cathay cuts services and asks staff to take unpaid leave

17 April 2009 Press Release Airline News

Cathay Pacific has rounded off a cruel week for aviation by announcing that it is reducing capacity and asking staff to take unpaid leave as both passenger and cargo divisions continue to slide sharply.Revenue from passenger and cargo fell 22.4 percent in the first quarter compared to last year. The Hong Kong carriers said it plans to cut passenger capacity by 8 percent from next month, whilst its China offshoot Dragonair will undergo a 13 percent cut. Cargo will be reduced by 11 percent.

Cathay Pacific reports record loss

18 March 2009 Press Release Airline News

The Cathay Pacific Group has reported an attributable loss of HK$8,558 million in 2008, compared to a profit of HK$7,023 million the previous year. The 2008 result is a record annual loss for the airline.