Not a good look for Cx:
Cathay Pacific shares plunge as airline posts worst results since 2008 | South China Morning Post
Apart from the terrible decision on the fuel-hedging the management also seem to be incapable of introducing diversification of products & services and still have terribly uncompetitive fares on a lot of routes.
I think they must adapt and change or they may not survive long term...perhaps a change of management is needed?