Cathay

Cathay Pacific sees six-fold rise in 1H net profit

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The Cathay Pacific Group has reported an attributable profit of HK$1,972 million (US$254.4 million) for the first six months of 2015. This is nearly a six-fold jump from the HK$347 million profit in the first half of 2014. Revenue for the period decreased by 0.9 per cent to HK$50,388 million. The Group’s performance in the first six months of 2015 was considerably better than in the same period in 2014, Cathay noted citing higher load factors in the Group’s passenger business as a key reason. … [Read more...] about Cathay Pacific sees six-fold rise in 1H net profit

Air cargo CO2 emissions to increase 411% by 2050

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The global air cargo market reported impressive growth last year, marking the first upswing in the market following a long period of stagnation. The result, fear many environmentalists, will lead not merely to the growth of the global air cargo market but also contribute significantly to the increase in CO2 emissions. Analysts predict that more emissions will be produced from freight cargo than passengers by 2050. The International Transport Forum (ITF) has provided figures estimating that … [Read more...] about Air cargo CO2 emissions to increase 411% by 2050

Hong Kong: Cathay looks at major network restructuring

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Cathay Pacific Airways is looking at a possible major revamp of its network and fleet than previously disclosed, according to a memo sent to employees last week by CEO Tony Tyler. Tyler bleakly warned that the airline likely won’t “emerge unscathed” from the industry downturn. “These are extremely difficult times for the aviation industry, and I’m sorry to say there doesn’t appear to be any light at the end of the tunnel just yet,” he added. He … [Read more...] about Hong Kong: Cathay looks at major network restructuring