Cathay Pacific News
OFT launches Virgin Atlantic price fixing probe
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
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.
Cathay Pacific lets Economy passengers book seats with extra leg room
Cathay Pacific now enables Economy Class passengers to reserve seats with extra leg room for an additional charge.
Seat Review - Cathay Pacific Business Class (Herrinbone style)
I have lost track of what trip I am reviewing as I have consumed a lot of Cathay Pacific business class in the last few months. I have taken trips to Rome (via Hong Kong) and Tokyo and Seoul (with a CX leg care of a oneworld circle Pacific fare).
Air China raises stake in Cathay
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
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
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
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.
Cathay reports passenger rise
Cathay Pacific and Dragonair‘s combined traffic figures for January 2009 show an increase in the number of passengers carried compared to the same month in 2008, partly as a result of the Chinese New Year peak period, together with another substantial fall in cargo and mail tonnage.
Cathay Pacific upgrades long-haul product
Cathay Pacific is celebrating a revolution in its long-haul product that sees a brand new seat, cabin design and in-flight entertainmentsystem introduced in the First, Business and Economy Class cabins.
Cathay, Changi, Air NZ score at travel awards
Cathay Pacific Airways has been named Asia’s Leading Airline; Singapore Airline’s was named Asia’s Leading Airline Website as well as Asia’s Leading First Class Airline at this year’s regional World Travel Awards (WTA) ceremony.