I’m guessing that Cathay Pacific CEO Tony Tyler gave this interview to UK newspaper The Daily Telegraph en route to the latest meeting of the oneworld airline CEOs in Madrid yesterday.
In it he talks a lot of sense about consolidation. The sense being consolidation does not always make sense.
Tyler is also refreshingly honest, as usual, about the big challenges Cathay is facing as premium demand tumbles and cargo throughput falls.
At last year’s IATA annual meeting in June, Tyler was extremely realistic about the prospects for the business in the coming year. He clearly had some early warning indicators flashing.
The big issue then was the high price of fuel. Cathay issued a profits warning just weeks after the IATA meeting.