All Cathay Pacific articles – Page 5
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NewsCathay shutters Cathay Dragon brand, axes 5,900 jobs
Cathay Pacific Group will cut 5,900 jobs, in a HK$2.2 billion ($284 million) restructuring exercise that will also see the Cathay Dragon brand cease operations effective immediately. As part of restructuring efforts, the group will eliminate 8,500 positions, or about 24% of its existing headcount. Of these, 2,600 ...
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NewsCathay appears to switch more A350-1000s to -900s
Cathay Pacific appears to have converted a pair of Airbus A350-1000s to the smaller -900 variant, the Hong Kong-based carrier’s half-year accounts indicate. Airbus’s backlog figures to the end of July show Cathay had ordered 46 A350s, a mix of 26 A350-900s and 20 of the larger -1000s. It has ...
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NewsCathay not cancelling 777-9 orders, as it warns of bleak second half
Cathay Pacific has stressed that it is in discussions with Boeing about deferring — not cancelling — its orders for the 777-9 widebody. At a briefing after it disclosed record first half losses, Cathay chief operations and service delivery officer Greg Hughes says it is a “deferral of all 21 ...
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AnalysisHow many jobs are airlines cutting due to coronavirus?
Of the large airlines to have made announcements so far, most have implemented job cuts affecting significant proportions of their workforces.
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In depthAsia-Pacific coronavirus crisis has clear winners and losers
Asia-Pacific airlines continue to have a rough ride with coronavirus, but the crisis will place further airspace between stronger and weaker carriers.
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In depthGrounded commercial aircraft around the world – in pictures
Parked aircraft have become commonplace at airports in all regions as the coronavirus outbreak prompts border restrictions and plummeting demand for air travel
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NewsCathay Pacific to close three US bases
Cathay Pacific will close its three US cabin crew bases to preserve cash while the global air transport market remains “virtually halted” by the coronavirus pandemic.
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NewsPost-pandemic demand recovery ‘impossible to predict’: Cathay
March proved to be yet another month of weak traffic figures for Cathay Pacific, which states that it is “impossible to predict” when passenger demand will recover from the coronavirus crisis. Commenting on its traffic results for March, Cathay adds that it is not seeing any improvement so far in ...
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AnalysisWhy airline CEOs should think counter-intuitively during a crisis
Airline chief executives need to act swiftly during the coronavirus crisis, but should also remember that counter-intuitive actions might lead to better outcomes – particularly when it comes to short-term hits to the balance sheet. Those were among the key messages heard during the FlightGlobal webinar Airline chiefs on surviving ...
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NewsCathay reduces flying to ‘bare skeleton’ network of 15 points
Cathay Pacific has extended its deep capacity cuts for another month, reducing capacity by 96% for April and May, operating a “bare skeleton” passenger flight schedule of just 15 cities. With the latest cuts, Cathay will fly three-times-weekly to 12 points in its network to cities such as Singapore, London ...
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NewsCoronavirus costs Cathay HK$2 billion in February
Cathay Pacific made an unaudited loss of more than HK$2 billion ($257 million) in February, as it takes a hit from the coronavirus outbreak. Meanwhile, Singapore Airlines saw falling passenger numbers for the month, and warns of weakened travel demand in the near term.
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NewsCathay Pacific in talks to defer aircraft deliveries
Cathay Pacific is in talks with Boeing and Airbus over possible deferral of aircraft deliveries this year, as the coronavirus outbreak leaves an impact on its fiscal performance. At a briefing after Cathay released its annual results for 2019, chief operations and services delivery officer Greg Hughes confirmed that discussions ...
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NewsCathay flags ‘substantial loss’ for first half of 2020
The ongoing coronavirus outbreak is taking its toll on the Cathay Pacific group’s financial performance, with the group warning that it expects to incur a “substantial loss” for the first-half of this year. Cathay adds in its full-year financial results that the outbreak, which first originated in China late 2019, ...
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News‘Turbulent’ 2019 squeezes Cathay profit
The Cathay Pacific Group saw operating profit for 2019 shrink, following a worse-than-expected second-half result that was affected by political turmoil in Hong Kong. For the year ended 31 December 2019, the group reported an operating profit of HK$3.4 billion ($437 million), a 4.3% decrease compared to 2018. ...
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NewsCathay mulls cargo-only service on passenger jets to Japan
Following cuts made to its Japan passenger network, Cathay Pacific is considering operating cargo-only services on its passenger aircraft. In a notice sent out to its clients, Cathay’s cargo arm says it only expects passenger belly cargo operations to be impacted by recently-announced cuts. However, it is looking at ways ...
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NewsCathay flags ‘significantly’ lower first half results from coronavirus hit
Embattled Hong Kong-carrier Cathay Pacific has warned that its first half results for 2020 will be “significantly down” compared to the same period last year, as the outbreak of the coronavirus compounds an already challenging market.
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NewsCathay details flight suspensions caused by coronavirus
London Gatwick, Rome and Washington Dulles are among a raft of international routes that are being suspended until the end of March by Cathay Pacific as it seeks to conserve cash during the ongoing coronavirus outbreak.
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NewsCathay Pacific asks staff to take unpaid leave amid coronavirus fallout
Cathay Pacific is encouraging its employees to take three weeks of unpaid leave, in a bid to save money, after being forced to slash capacity by 30% as a result of falling demand related to China’s coronavirus outbreak.
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NewsCoronavirus outbreak forces Cathay to slash capacity by 30%
Cathay Pacific and Cathay Dragon will cut 90% of its mainland China flights over the next two months, citing a “consequential significant drop” in market demand owing to the coronavirus outbreak. The two carriers add that there will be “significant reductions” across the rest of their respective networks for the ...
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NewsHong Kong carriers to halve capacity into China
Hong Kong’s four main carriers will halve their services into Mainland China, as part of special arrangements made in light of a novel coronavirus outbreak in China. The Hong Kong government said in a 28 January press briefing that the carriers — Cathay Pacific, Cathay Dragon, Hong Kong Express, ...