Still want more productivity CX?
 

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Cathay issues positive profit alert

Wednesday, February 20, 2019

Cathay Pacific Airways (0293) has posted a profit alert, saying that it is expected to record a consolidated net profit of approximately HK$2.3 billion for the year ended December 31, 2018.

The local flag carrier booked a net loss for two consecutive years – HK$1.259 billion in 2017 and HK$575 million in 2016.

In a stock exchange filing today, Cathay said its transformation program last year has had a positive impact.

"The passenger business benefited from capacity growth, a focus on customer service and improved revenue management. Load factors were sustained and yield improved despite competitive pressures. The cargo business was strong. Capacity, yield and load factors increased," the carrier said.

LOL. Shame this was released after the vote, hey?

The SCMP article announcing the profit has already been quickly edited. The midday edition by Denise Tsang included the very accurate statement that "the losses of the last few years were directly attributable to the fuel hedging miscalculation.", or words to that effect. The accuracy of the statement stood out to me as not normally associated with the SCMP. Alas, as of 3 PM, that sentence has been removed. No doubt at the behest of someone offended by the truth.

Absolutely not for the pilots.

Difficult one for the DFO to dig his way out of. Bluff called. time to pay up.

Or that they're cutting routes and frequencies left right and centre (and keeping it quiet from the travelling public). And running 3 crew as opposed to 4. And running with two SOs on long haul. And have no reserve coverage.

But other than that, it's all good thanks for asking...

They don't publicise it but it does happen allot. Many times my roster changes to reflect cancelled flights. My Taipei split was changed to min rest due cancel and consolidate onto another flight. There by saving one set of crew to be utilized somewhere else. Regional flight cancellation is a great way to free up crew resources look at both Singapore and bkk flights too. Medium haul to a lesser degree but it does happen like 4 flights a day to Sydney sees regularly one of those flights cancelled saving a 3man crew in the same way. Same with Melbourne and Perth for a while saw a whole number of flight changes cancellations and consolidating. All these things without regular cancellation is a good way to keep slots alive but reduce manpower needed. It's transparent to the ignorant but to those who regularly fly those routes or the ground staff in Port it becomes obvious. The propaganda machine would rather show that flights are not reduced in the usual smoke and mirrors way of fooling the minions and the regulatory authorities. You have obviously been fooled.

RAT is completely correct. Anyone who is working "at the coal face" can plainly see that all is not well with CX operations. Too many cancelled flights to list, going back the last 2-3 years. Many daily flights cancelled to/from NA are well documented. We used to have 4 daily returns to LAX. Now, down to 3, and frequently even one of those is cancelled, hence only 2 per day at times. Not a sign of a healthy airline. There is also the recent notifications of changes to the AUS schedules, with many cancelled flights. CX has taken it on themselves to attack their aircrew as a major point of policy, and now that the strategy has backfired, they are left with an operation that is chronically short of pilots, they can't recruit trained pilots, and an ever growing percentage of resignations that is gaining momentum, as most pilots realise there is in fact NO future for them and their families with CX. It's too late to turn the Titanic around now, and everyone knows it. You reap what you sow....

Methinks personally the money laundering is over and it's time to generate a rosy picture so's cash can be borrowed and leveraged so's the cycle can go on........and on.......and on.