20 MARCH 2017

YOUR WORDS


Readers are invited to add their comments to any story. Click on the article to see and add.

BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.

Index

Email this Page
Bookmark

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
info@btnews.co.uk
© 2017 Business Travel News Ltd.

Article from BTNews 20 MARCH 2017

60m loss for Cathay

The Cathay Pacific Group last week reported a loss of HK$575m (about £60m) for 2016, its first since the world financial crisis began in 1988. The figure compares to a profit of HK$6,000m (£626m) in 2015. 

Cathay said the operating environment for the core airline business was “difficult” in 2016, with a number of factors adversely affecting performance, most important of which was “intense and increasing competition with other airlines”.

Rival carriers had increased capacity significantly, there were more direct flights between mainland China and international destinations and competition from low-cost carriers increased, Cathay said. 

Along with overcapacity in the market, three economic factors were also important, the carrier added – reduced economic growth in mainland China, a reduction in the number of visitors to Hong Kong and the strength of the Hong Kong dollar.

However, Cathay added new routes during the year and said it would add Tel Aviv, Barcelona and Christchurch this year and would increase frequency on some other destinations.

Chairman John Slosar said: “We expect the operating environment to remain challenging. Strong competition from other airlines and the adverse effect of the strength of the Hong Kong dollar are expected to continue to put pressure on yield.”

www.cathaypacific.com

Index/Home page
 

OUR READERS FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


No one has commented yet, why don't you start the ball rolling?


Add your comment

First Name
Surname
Email Address
Company (Not obligatory)
Country/City
Comment
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.


www.btnews.co.uk Subscribe Change details Contact Us Search