Cathay Pacific says new budget airline would serve ‘unique market segment’

Hong Kong’s Cathay Pacific Airways, in talks to buy low-cost carrier Hong Kong Express Airways, believes budget airlines have a “unique market segment” it does not capture at present, Chief Executive Rupert Hogg said on Monday. Cathay this month said it was in “active discussions” to acquire the airline controlled by HNA Group. “It does interest us,” Hogg told Reuters of the budget airline sector during an interview in Singapore. “We watch Singapore Airlines and Scoot; we can see they are trying


Hong Kong’s Cathay Pacific Airways, in talks to buy low-cost carrier Hong Kong Express Airways, believes budget airlines have a “unique market segment” it does not capture at present, Chief Executive Rupert Hogg said on Monday. Cathay this month said it was in “active discussions” to acquire the airline controlled by HNA Group. “It does interest us,” Hogg told Reuters of the budget airline sector during an interview in Singapore. “We watch Singapore Airlines and Scoot; we can see they are trying
Cathay Pacific says new budget airline would serve ‘unique market segment’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: anthony wallace, afp, getty images
Keywords: news, cnbc, companies, singapore, airways, pacific, travel, unique, hong, kong, cathay, airline, talks, serve, airlines, budget, market, segment


Cathay Pacific says new budget airline would serve 'unique market segment'

Hong Kong’s Cathay Pacific Airways, in talks to buy low-cost carrier Hong Kong Express Airways, believes budget airlines have a “unique market segment” it does not capture at present, Chief Executive Rupert Hogg said on Monday.

Cathay this month said it was in “active discussions” to acquire the airline controlled by HNA Group.

That would boost revenue and give Cathay access to the growing low-cost travel market at a time when a lack of slots at Hong Kong International Airport has constrained its ability to follow peers like Singapore Airlines and Qantas Airways and set up its own budget brand.

“It does interest us,” Hogg told Reuters of the budget airline sector during an interview in Singapore. “We watch Singapore Airlines and Scoot; we can see they are trying to get connectivity between them.”

He declined to comment on the status of talks to acquire Hong Kong Express but said the low prices offered by budget carriers helped to stimulate new travel demand, making it a “unique market segment.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: anthony wallace, afp, getty images
Keywords: news, cnbc, companies, singapore, airways, pacific, travel, unique, hong, kong, cathay, airline, talks, serve, airlines, budget, market, segment


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Cathay Pacific says it’s ‘very happy’ with its Boeing fleet, despite recent 737 Max crash

U.S. plane manufacturer Boeing has been mired in controversy since its 737 Max 8 operated by Ethiopian Airlines crashed minutes after takeoff on Sunday, killing all 157 people on board. Despite recent safety concerns surrounding the 737 Max 8, Cathay Pacific’s CEO said Thursday he was “very happy” with the Hong Kong-based carrier’s Boeing fleet. Speaking to CNBC’s “Squawk Box Asia,” Rupert Hogg said “about 50-50” of the airline’s fleet is made up of Boeing and Airbus planes — namely, the Boeing


U.S. plane manufacturer Boeing has been mired in controversy since its 737 Max 8 operated by Ethiopian Airlines crashed minutes after takeoff on Sunday, killing all 157 people on board. Despite recent safety concerns surrounding the 737 Max 8, Cathay Pacific’s CEO said Thursday he was “very happy” with the Hong Kong-based carrier’s Boeing fleet. Speaking to CNBC’s “Squawk Box Asia,” Rupert Hogg said “about 50-50” of the airline’s fleet is made up of Boeing and Airbus planes — namely, the Boeing
Cathay Pacific says it’s ‘very happy’ with its Boeing fleet, despite recent 737 Max crash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: shirley tay, marcio rodrigo machado, getty images
Keywords: news, cnbc, companies, cathay, crash, pacific, despite, 737, airlines, plane, recent, fleet, hogg, boeing, happy, operated, max, killing, ethiopian


Cathay Pacific says it's 'very happy' with its Boeing fleet, despite recent 737 Max crash

U.S. plane manufacturer Boeing has been mired in controversy since its 737 Max 8 operated by Ethiopian Airlines crashed minutes after takeoff on Sunday, killing all 157 people on board.

Despite recent safety concerns surrounding the 737 Max 8, Cathay Pacific’s CEO said Thursday he was “very happy” with the Hong Kong-based carrier’s Boeing fleet.

Speaking to CNBC’s “Squawk Box Asia,” Rupert Hogg said “about 50-50” of the airline’s fleet is made up of Boeing and Airbus planes — namely, the Boeing 777, Airbus A350 and A330. The airline does not fly the Boeing 737 Max.

“It is a tragedy, but we’re very happy with both sets of aircraft that we have,” Hogg said, in reference to Sunday’s deadly crash.

The fatal accident involving Ethiopian Airlines flight 302 — which killed all 149 passengers and eight crew members — comes less than five months after the same model plane operated by Indonesia’s Lion Air crashed shortly after taking off from Jakarta, killing all 189 on board.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: shirley tay, marcio rodrigo machado, getty images
Keywords: news, cnbc, companies, cathay, crash, pacific, despite, 737, airlines, plane, recent, fleet, hogg, boeing, happy, operated, max, killing, ethiopian


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Cathay Pacific makes good on first-class ticket blunder

Cathay Pacific Airways said it would guarantee thousands of first and business-class flights sold at huge discounts after a ticketing error, calling the mistake a surprise special on New Year’s Day. The tickets are for flights from Vietnam to New York on Cathay Pacific for around $675 return instead of about $16,000 normally. Online flight blogs and forums have been active with discussion on the deals since the error, with posts wagering on whether Cathay would honour the ticket fares. The ticke


Cathay Pacific Airways said it would guarantee thousands of first and business-class flights sold at huge discounts after a ticketing error, calling the mistake a surprise special on New Year’s Day. The tickets are for flights from Vietnam to New York on Cathay Pacific for around $675 return instead of about $16,000 normally. Online flight blogs and forums have been active with discussion on the deals since the error, with posts wagering on whether Cathay would honour the ticket fares. The ticke
Cathay Pacific makes good on first-class ticket blunder Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: anthony wallace, afp, getty images
Keywords: news, cnbc, companies, special, honour, firstclass, error, pacific, good, ticket, cathay, ticketing, makes, million, mistake, carrier, blunder


Cathay Pacific makes good on first-class ticket blunder

Cathay Pacific Airways said it would guarantee thousands of first and business-class flights sold at huge discounts after a ticketing error, calling the mistake a surprise special on New Year’s Day.

The Hong Kong-based carrier acknowledged the error on its twitter feed on Wednesday, stating “we made a mistake but we look forward to welcoming you on board with your ticket issued. Hope this will make your 2019 special too!”

The tickets are for flights from Vietnam to New York on Cathay Pacific for around $675 return instead of about $16,000 normally.

With the hashtags “Promisemadepromisekept” and “lessonlearnt” the carrier said it would maintain the economy fares.

The fares were not available on Cathay’s website on Thursday.

Online flight blogs and forums have been active with discussion on the deals since the error, with posts wagering on whether Cathay would honour the ticket fares.

Flyer Talk Evangelist wrote “Nobody here has noticed the hot mistake fare? … Has been going on for hours. Wanna bet on the odd CX would honour this?”

The ticketing error caps a tough year for Cathay. The carrier has come under mounting criticism after it said in October that about 9.4 million passengers’ personal data had been accessed without authorisation, seven months after it became aware of the breach.

The airline said it has spent over $127.7 million on IT infrastructure and security over the past three years.


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: anthony wallace, afp, getty images
Keywords: news, cnbc, companies, special, honour, firstclass, error, pacific, good, ticket, cathay, ticketing, makes, million, mistake, carrier, blunder


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Hong Kong privacy watchdog to investigate Cathay Pacific over massive data breach

Hong Kong’s privacy commissioner will launch a compliance investigation into Cathay Pacific Airways over a data breach involving 9.4 million passengers, saying the carrier may have violated privacy rules. It will also cover Cathay’s fully owned subsidiary, Hong Kong Dragon Airlines, or Dragon Air, some of whose passengers were affected by the breach. In addition to 860,000 passport numbers and about 245,000 Hong Kong identity card numbers, the hackers accessed 403 expired credit card numbers and


Hong Kong’s privacy commissioner will launch a compliance investigation into Cathay Pacific Airways over a data breach involving 9.4 million passengers, saying the carrier may have violated privacy rules. It will also cover Cathay’s fully owned subsidiary, Hong Kong Dragon Airlines, or Dragon Air, some of whose passengers were affected by the breach. In addition to 860,000 passport numbers and about 245,000 Hong Kong identity card numbers, the hackers accessed 403 expired credit card numbers and
Hong Kong privacy watchdog to investigate Cathay Pacific over massive data breach Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: christian keenan, getty images
Keywords: news, cnbc, companies, watchdog, card, cathay, kong, massive, investigate, hong, privacy, investigation, breach, data, personal, numbers, pacific


Hong Kong privacy watchdog to investigate Cathay Pacific over massive data breach

Hong Kong’s privacy commissioner will launch a compliance investigation into Cathay Pacific Airways over a data breach involving 9.4 million passengers, saying the carrier may have violated privacy rules.

The airline has faced criticism for the seven-month delay in its October revelation of the breach in the data, which it said had been accessed without authorization, following suspicious activity in its network in March.

“There are reasonable grounds to believe there may be a contravention of a requirement under the law,” Hong Kong’s Privacy Commissioner for Personal Data, Stephen Wong, said in a statement.

“The compliance investigation is going to examine in detail, amongst others, the security measures taken by Cathay Pacific to safeguard its customers’ personal data and the airline’s data retention policy and practice,” he added.

It will also cover Cathay’s fully owned subsidiary, Hong Kong Dragon Airlines, or Dragon Air, some of whose passengers were affected by the breach.

Cathay made no immediate response to Reuters’ email request for comment on the investigation. Telephone calls went unanswered.

The privacy watchdog said it had received 89 complaints related to the cyber leak.

In addition to 860,000 passport numbers and about 245,000 Hong Kong identity card numbers, the hackers accessed 403 expired credit card numbers and 27 credit card numbers with no card verification value (CVV), Cathay said.

It was not immediately clear who was behind the personal data breach or what the information might be used for, but Cathay said there was no evidence so far that any personal information had been misused.

Under Hong Kong law, the privacy commissioner can call witnesses, enter premises and hold public hearings in the investigation, which will check if Cathay violated any requirement of the Personal Data (Privacy) Ordinance.

The controversy has spurred calls from politicians and privacy advocates for Hong Kong to revamp its laws to make the reporting of such potential data breaches mandatory.

Cathay’s share price initially plunged to its lowest since June 2009 after the scandal but has rebounded and recovered all its losses. The stocks were up 1.7 percent on Tuesday afternoon.

The data breach comes amid an airline turnaround to cut costs and boost revenue, after back-to-back years of losses, so as to better compete with rivals from the Middle East, mainland China and budget airlines.

In August, Cathay Pacific posted a narrower half-year loss on a strong rise in airfares and cargo rates and flagged expectations for a better second half, despite economic headwinds from mounting U.S.-China trade tension.


Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: christian keenan, getty images
Keywords: news, cnbc, companies, watchdog, card, cathay, kong, massive, investigate, hong, privacy, investigation, breach, data, personal, numbers, pacific


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Cathay Pacific, which lost money in the last two years, aims to turn profitable in 2019

Rising fuel costs and the threat of a trade war will not affect Cathay Pacific’s plan to turn in a profit in 2019, Chief Executive Rupert Hogg said on Monday as the airline seeks to recover from two straight years of losses. The flag carrier of Hong Kong is currently in the midst of a three-year turnaround plan to keep costs low and improve revenue. The recent rise in oil prices and growing trade protectionism globally, which are typically bad news for the airline industry, have not threatened t


Rising fuel costs and the threat of a trade war will not affect Cathay Pacific’s plan to turn in a profit in 2019, Chief Executive Rupert Hogg said on Monday as the airline seeks to recover from two straight years of losses. The flag carrier of Hong Kong is currently in the midst of a three-year turnaround plan to keep costs low and improve revenue. The recent rise in oil prices and growing trade protectionism globally, which are typically bad news for the airline industry, have not threatened t
Cathay Pacific, which lost money in the last two years, aims to turn profitable in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-04  Authors: andrew wong, dale de la rey, afp, getty images
Keywords: news, cnbc, companies, lost, fuel, prices, growing, plan, costs, 2019, profitable, oil, cathay, aims, hogg, airline, money, rising, turn, trade, pacific


Cathay Pacific, which lost money in the last two years, aims to turn profitable in 2019

Rising fuel costs and the threat of a trade war will not affect Cathay Pacific’s plan to turn in a profit in 2019, Chief Executive Rupert Hogg said on Monday as the airline seeks to recover from two straight years of losses.

The flag carrier of Hong Kong is currently in the midst of a three-year turnaround plan to keep costs low and improve revenue. That should help the airline to compete better and return to profitability next year, Hogg said.

“I’m not going to make any forecast about our future but that’s our target and at the moment, we are on track to do that,” he told CNBC’s Matthew Taylor at the IATA Annual General Meeting in Sydney.

The recent rise in oil prices and growing trade protectionism globally, which are typically bad news for the airline industry, have not threatened the company’s strategy, the CEO said.

He explained that the airline has not been impacted in a big way by the higher oil prices because of its many young aircrafts. At an average age of 5.5 years old, Cathay’s planes don’t consume as much fuel as their older counterparts, he added.

“What that means in sum is that, although the price of fuel is rising, our consumption is not growing as fast as the units of production we are putting into the air,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-06-04  Authors: andrew wong, dale de la rey, afp, getty images
Keywords: news, cnbc, companies, lost, fuel, prices, growing, plan, costs, 2019, profitable, oil, cathay, aims, hogg, airline, money, rising, turn, trade, pacific


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Cathay Pacific crew saw North Korean missile from plane

A crew on board a Cathay Pacific aircraft saw a North Korean missile blow up over the Sea of Japan last week, the airline told CNBC on Monday. The crew of Cathay Pacific CX893, which was traveling to Hong Kong from San Francisco, reportedly saw the missile from their plane as it was passing over Japan and alerted the country’s air traffic control. Though the flight was far from the event location, the crew advised Japan ATC (air traffic control) according to procedures,” Cathay Pacific told CNBC


A crew on board a Cathay Pacific aircraft saw a North Korean missile blow up over the Sea of Japan last week, the airline told CNBC on Monday. The crew of Cathay Pacific CX893, which was traveling to Hong Kong from San Francisco, reportedly saw the missile from their plane as it was passing over Japan and alerted the country’s air traffic control. Though the flight was far from the event location, the crew advised Japan ATC (air traffic control) according to procedures,” Cathay Pacific told CNBC
Cathay Pacific crew saw North Korean missile from plane Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-12-04  Authors: holly ellyatt, kcna
Keywords: news, games, cnbc, companies, advised, japan, cx893, told, korean, plane, saw, traffic, crew, missile, cathay, pacific, north


Cathay Pacific crew saw North Korean missile from plane

A crew on board a Cathay Pacific aircraft saw a North Korean missile blow up over the Sea of Japan last week, the airline told CNBC on Monday.

Pyongyang launched the latest in a series of ballistic missiles last Wednesday in defiance of international sanctions and warnings against provocations. The rocket, which the regime said could reach the U.S. mainland, crashed into the sea near Japan.

The crew of Cathay Pacific CX893, which was traveling to Hong Kong from San Francisco, reportedly saw the missile from their plane as it was passing over Japan and alerted the country’s air traffic control.

“On November 29, the flight crew of CX893 reported a sighting of what is suspected to be the re-entry of the recent DPRK test missile. Though the flight was far from the event location, the crew advised Japan ATC (air traffic control) according to procedures,” Cathay Pacific told CNBC in an emailed statement.

“Operation(s) remained normal and was not affected,” the company added.

Reporting the story Monday, the South China Morning Post added that the airline’s General Manager of Operations Mark Hoey had posted on a staff communication platform that: “The crew of CX893 reported, ‘Be advised, we witnessed the DPRK missile blow up and fall apart near our current location.'”

“We advised ATC and ops [operations] normal.” Hoey added, according to the paper.

Despite the danger and unpredictability of North Korean missile tests, Cathay Pacific told CNBC that the airline had no plans to alter its routes in the region or its operating parameters.

“We have been in contact with relevant authorities and industry bodies as well as with other carriers. At the moment, no-one is changing any routes or operating parameters,” Cathay Pacific said in its statement. “We remain alert and review the situation as it evolves.”


Company: cnbc, Activity: cnbc, Date: 2017-12-04  Authors: holly ellyatt, kcna
Keywords: news, games, cnbc, companies, advised, japan, cx893, told, korean, plane, saw, traffic, crew, missile, cathay, pacific, north


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Qatar Airways to buy 9.6% stake in Cathay Pacific

Hong Kong’s Kingboard Chemical Holdings on Monday said it had agreed to sell its 9.6 percent stake in Cathay Pacific Airways to Middle Eastern carrier Qatar Airways for HK$5.16 billion ($661 million). The Hong Kong airline has a highly concentrated share register with Swire Pacific owning 45 percent and Air China holding 30 percent. This is not the first time Qatar Airways has taken a stake in another airline. Qatar Airways and Cathay are both members of the oneworld alliance, as is British Airw


Hong Kong’s Kingboard Chemical Holdings on Monday said it had agreed to sell its 9.6 percent stake in Cathay Pacific Airways to Middle Eastern carrier Qatar Airways for HK$5.16 billion ($661 million). The Hong Kong airline has a highly concentrated share register with Swire Pacific owning 45 percent and Air China holding 30 percent. This is not the first time Qatar Airways has taken a stake in another airline. Qatar Airways and Cathay are both members of the oneworld alliance, as is British Airw
Qatar Airways to buy 9.6% stake in Cathay Pacific Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-11-05  Authors: stringer, afp, getty images
Keywords: news, games, cnbc, companies, qatar, buy, worst, airlines, 96, carrier, stake, cathay, airline, pacific, airways, hong, plans


Qatar Airways to buy 9.6% stake in Cathay Pacific

Hong Kong’s Kingboard Chemical Holdings on Monday said it had agreed to sell its 9.6 percent stake in Cathay Pacific Airways to Middle Eastern carrier Qatar Airways for HK$5.16 billion ($661 million).

Kingboard, an investment holding company, said it would recognise a gain of HK$800 million on the sale which represented its entire stake in the Hong Kong airline.

Cathay shares have risen by 29.4 percent since the start of January despite the airline in August posting its worst first-half loss in 20 years.

The Hong Kong airline has a highly concentrated share register with Swire Pacific owning 45 percent and Air China holding 30 percent.

This is not the first time Qatar Airways has taken a stake in another airline. The carrier owns 20 percent of International Consolidated Airlines Group, the parent of British Airways, as well as 10 percent of South America’s LATAM Airlines Group and 49 percent of Italy’s Meridiana.

Qatar Airways and Cathay are both members of the oneworld alliance, as is British Airways and LATAM.

The Qatari carrier in August dropped plans to build a stake of up to 4.75 percent in American Airlines Group.

Those investment plans were met with suspicion by critics at a time when Qatar is embroiled in the region’s worst diplomatic crisis in years and is locked in an airspace rights dispute with three other Gulf states.


Company: cnbc, Activity: cnbc, Date: 2017-11-05  Authors: stringer, afp, getty images
Keywords: news, games, cnbc, companies, qatar, buy, worst, airlines, 96, carrier, stake, cathay, airline, pacific, airways, hong, plans


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Asian shares edge lower as Trump’s Asia tour gets rolling; Cathay falls 4.1%

Japan’s Nikkei 225 rose 0.26 percent as markets re-opened for trade after a long weekend. Oil stocks and most automakers notched gains except for Mazda Motor, which declined 2.78 percent on a poorer-than-expected quarterly profit. Cosmetics and oil stocks, however, notched gains. Down Under, the S&P/ASX was off 0.14 percent, with gains in energy and utilities stocks offset by losses in the heavily-weighted financials sub-index. Meanwhile, statutory net profit for the period rose 7 percent to A$7


Japan’s Nikkei 225 rose 0.26 percent as markets re-opened for trade after a long weekend. Oil stocks and most automakers notched gains except for Mazda Motor, which declined 2.78 percent on a poorer-than-expected quarterly profit. Cosmetics and oil stocks, however, notched gains. Down Under, the S&P/ASX was off 0.14 percent, with gains in energy and utilities stocks offset by losses in the heavily-weighted financials sub-index. Meanwhile, statutory net profit for the period rose 7 percent to A$7
Asian shares edge lower as Trump’s Asia tour gets rolling; Cathay falls 4.1% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-11-05  Authors: cheang ming
Keywords: news, games, cnbc, companies, rolling, tour, falls, gets, billion, markets, cathay, index, stocks, rose, notched, trade, trumps, losses, oil, westpac, shares, lower, asian, edge


Asian shares edge lower as Trump's Asia tour gets rolling; Cathay falls 4.1%

Japan’s Nikkei 225 rose 0.26 percent as markets re-opened for trade after a long weekend. Oil stocks and most automakers notched gains except for Mazda Motor, which declined 2.78 percent on a poorer-than-expected quarterly profit.

Minutes from the Bank of Japan released Monday showed most policymakers thought the central bank should keep its current policy guidelines, Reuters reported.

Across the Korean Strait, the Kospi came under pressure. The index declined 0.57 percent as a fall in blue-chip tech stocks weighed on the broader market: Samsung Electronics erased 1.1 percent and SK Hynix slid 0.95 percent. Cosmetics and oil stocks, however, notched gains.

Down Under, the S&P/ASX was off 0.14 percent, with gains in energy and utilities stocks offset by losses in the heavily-weighted financials sub-index.

Australia’s Westpac announced on Monday that its cash earnings rose 3 percent to 8.06 billion Australian dollars ($6.17 billion) for the year ending on Sept. 30. That was below the 4 percent rise forecast in a Reuters poll. Meanwhile, statutory net profit for the period rose 7 percent to A$7.99 billion ($6.11 billion). Westpac shares lagged other banking stocks to fall 2.4 percent.

Hong Kong’s Hang Seng Index fell 1.05 percent in early trade. Mainland markets fared slightly better, recording more moderate losses. The Shanghai Composite was off 0.22 percent and the Shenzhen Composite shed 0.106 percent.

Asian corporates on Monday’s earnings calendar included Sumitomo and Mitsubishi.


Company: cnbc, Activity: cnbc, Date: 2017-11-05  Authors: cheang ming
Keywords: news, games, cnbc, companies, rolling, tour, falls, gets, billion, markets, cathay, index, stocks, rose, notched, trade, trumps, losses, oil, westpac, shares, lower, asian, edge


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