The CX team won the Best Airline Fuel Department for Asia Pacific region award at the 14th Annual Armbrust Award ceremony on 8 December in Los Angeles.
This is the second consecutive time CX has taken out this award.
The awards are decided through an independent survey sent to jet fuel suppliers who vote for the best airline fuel departments around the world depending on with their views on the airlines' performance such as understanding market fundamental, building in long term relationships and hold on contract confidentiality/integrity
From the FT Jan 08 2009
Cathay Pacific yesterday warned investors that losses arising from contracts it had taken to hedge its future fuel requirements had more than doubled to HK$7.6bn ($980m).
In November, the Hong Kong-based air carrier said its mark-to-market hedging losses stood at HK$2.8bn and it warned of weak across-the-board revenues.
Like other airlines, Cathay has been caught by the steep fall since last summer in the price of crude
Are they smoking something? Second CONSECUTIVE award? FOR WHAT?