View Full Version : Cathay posts back to back loss

Mike Flynn
14th Mar 2018, 06:20
Things are not looking good at Cathay.

Hong Kong's flagship carrier Cathay Pacific has posted its first back-to-back annual loss since the company was founded in 1946.
The airline blamed intense competition from low-cost Chinese carriers and higher fuel prices, among other issues, for the result.
Losses came to 1.26bn Hong Kong dollars ($161m; 115m) for the year to December, the firm said.
Cathay is part way through a huge three-year cost cutting programme.
In March last year, it posted its first annual loss in eight years.
The airline operates mainly in Asia, Europe and North America, but is facing some of its toughest competition from low-cost Chinese carriers, among others, on routes covering Hong Kong, mainland China and across South East Asia.Cathay Pacific in its first back-to-back loss in 71 years - BBC News (http://www.bbc.com/news/business-43396447)

14th Mar 2018, 06:42
Well all losses can be attributed to fuel hedging, flights are full. For the last 6 months of 2017 they posted a profit. Im sure the staff will suffer the consequences though

Start Fore
14th Mar 2018, 08:11
If it weren't for the fuel hedging morons in management, we would have made a huge profit, as we would have last year.

14th Mar 2018, 08:17
Notice that there is virtually no discussion of HNA even though they are in an even worse financial situation with fuel providers threatening to cut supplies in 2 days. Also no more deliveries and all aircraft intended for HNA are going into storage. Cathay' problems are nothing in comparison.

Mike Flynn
14th Mar 2018, 08:47
Cathay are doing some competitive local fares at the moment. I am flying with them next week Bangkok to Hong Kong cheaper than Air Asia.