Does any of this seem familiar?
Annual Report 2008
The Cathay Pacific Group recorded an attributable loss of HK$8,558 million in 2008, compared to a profit of HK$7,023 million the previous year. Turnover rose by 14.9% to HK$86,578 million.
The price of aviation fuel reached new highs in July 2008 though prices fell significantly towards the end of the year. Fuel surcharges on cargo and passenger tickets only partially offset the additional cost incurred over the course of the year. The fall in fuel prices, though welcome, caused unrealised mark to market losses of HK$7.6 billion on our fuel hedging contracts for the period 2009-2011
The Board of Directors (the “Board”) of Cathay Pacific Airways Limited (the
“Company”) announces that:
(1) Mr. Robert Michael James ATKINSON has resigned as Finance Director of the Company with effect from 12th March 2009;
Mr. R.M.J. Atkinson has confirmed that he is not aware of any matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. He has also confirmed that his resignation is due to his retirement, and that he is not aware of any disagreement with the Board.
Hong Kong, 14th January 2009