Ivan stated that it is not all doom and gloom at Cathay Pacific. The two highlights are the introduction of the A350 and the new Lounges at airports. BUT with the A350 fleet not even offering a First Class product where are the First Class passengers going to come from who will fill these wonderful and expensive new Lounges? CX have abandoned the First Class market to the competition and instead are targeting the Student and Senior market to top up the seat occupancy, a strategy which is bound to lower yield . Meanwhile the competition offer what the customer wants , which is the A380 and a First Class option, to offer less would be an unacceptable erosion of their Brand image.