Cathay Pacific Airways CEO resigns, the airline’s board blames ‘recent events’

Rupert Hogg, chief executive officer of Cathay Pacific Airways Ltd., attends a news conference in Hong Kong, China, on Wednesday, Mar. The CEO of Hong Kong airline Cathay Pacific, Rupert Hogg, is to step down as the company’s leader “in view of recent events.” The airline has been under huge political pressure from Beijing after one of its pilots was found to have taken part in the ongoing protests in Hong Kong. In a statement to the Hong Kong Stock Exchange on Friday, Cathay Pacific’s board con


Rupert Hogg, chief executive officer of Cathay Pacific Airways Ltd., attends a news conference in Hong Kong, China, on Wednesday, Mar. The CEO of Hong Kong airline Cathay Pacific, Rupert Hogg, is to step down as the company’s leader “in view of recent events.” The airline has been under huge political pressure from Beijing after one of its pilots was found to have taken part in the ongoing protests in Hong Kong. In a statement to the Hong Kong Stock Exchange on Friday, Cathay Pacific’s board con
Cathay Pacific Airways CEO resigns, the airline’s board blames ‘recent events’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: david reid
Keywords: news, cnbc, companies, events, kong, cathay, hong, confirmed, pacific, resigns, airline, view, step, ceo, statement, recent, hogg, board, airlines, blames, airways


Cathay Pacific Airways CEO resigns, the airline's board blames 'recent events'

Rupert Hogg, chief executive officer of Cathay Pacific Airways Ltd., attends a news conference in Hong Kong, China, on Wednesday, Mar. 13, 2019. The airline announced Hogg’s resignation on Mar.16.

The CEO of Hong Kong airline Cathay Pacific, Rupert Hogg, is to step down as the company’s leader “in view of recent events.”

The airline has been under huge political pressure from Beijing after one of its pilots was found to have taken part in the ongoing protests in Hong Kong. Another pilot was then said to have misused company information related to the protests. Both were subsequently sacked by the airline.

In a statement to the Hong Kong Stock Exchange on Friday, Cathay Pacific’s board confirmed that Hogg would step down as CEO despite there not being any matter that shareholders needed to be made aware of.

“He has also confirmed that he has resigned to take responsibility as a leader of the Company in view of recent events and that he is not aware of any disagreement with the Board,” added the statement.

From Monday, Hogg will be replaced by Augustus Tang. The airline also confirmed that Paul Loo has resigned as an Executive Director and Chief Customer and Commercial Officer and, on Monday, will be replaced by Ronald Lam.

In a separate statement issued by the airline, outgoing CEO Hogg said: “These have been challenging weeks for the airline and it is right that Paul and I take responsibility as leaders of the company.”

Cathay’s chairman, John Slosar, added that it was time to put “a new management team in place who can reset confidence”.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: david reid
Keywords: news, cnbc, companies, events, kong, cathay, hong, confirmed, pacific, resigns, airline, view, step, ceo, statement, recent, hogg, board, airlines, blames, airways


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Shares of Cathay Pacific rebound, but the airline may still be in a ‘very tough place’

A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019 NurPhoto | Getty ImagesShares of Hong Kong airline Cathay Pacific rebounded in Wednesday morning trade. “It’s very, very hard for us to know what’s going to happen in the next upcoming days or even upcoming weeks simply because right now Cathay Pacific is unfortunately stuck in a very, very, very tough place.” Shares of Cathay Pacific jumped more than 2.5%


A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019 NurPhoto | Getty ImagesShares of Hong Kong airline Cathay Pacific rebounded in Wednesday morning trade. “It’s very, very hard for us to know what’s going to happen in the next upcoming days or even upcoming weeks simply because right now Cathay Pacific is unfortunately stuck in a very, very, very tough place.” Shares of Cathay Pacific jumped more than 2.5%
Shares of Cathay Pacific rebound, but the airline may still be in a ‘very tough place’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: eustance huang
Keywords: news, cnbc, companies, safety, pacific, airline, international, airport, rebound, shares, kong, cathay, china, airlines, aviation, hong, tough, place


Shares of Cathay Pacific rebound, but the airline may still be in a 'very tough place'

A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019 NurPhoto | Getty Images

Shares of Hong Kong airline Cathay Pacific rebounded in Wednesday morning trade. Still, “much uncertainty” remains ahead in the market, according to Luya You, analyst for transportation research at Bocom International. “We believe … the most prudent way to treat the stock right now is to downgrade to neutral,” You — who disclosed ownership in Cathay Pacific stock — told CNBC’s “Squawk Box” on Wednesday. “It’s very, very hard for us to know what’s going to happen in the next upcoming days or even upcoming weeks simply because right now Cathay Pacific is unfortunately stuck in a very, very, very tough place.” Shares of Cathay Pacific jumped more than 2.5% in morning trade on Wednesday.

Right now Cathay Pacific is unfortunately stuck in a very, very, very tough place Luya You Analyst for transportation research at Bocom International

Cathay in the spotlight amid protests

You’s comments came as Hong Kong continues to be rocked by protests that have lasted for weeks and have seen outbursts of violence. Recent rounds have left operations at the city’s airport disrupted for two days. For its part, Cathay Pacific has come under increased scrutiny from Beijing, with the Chinese aviation regulatory body issuing a “major aviation safety risk warning” to the airline last week. The Civil Aviation Authority said that “on multiple occasions,” Cathay’s flight personnel have participated in “violent assault,” according to CNBC’s translation. “The incidents pose a serious threat to aviation safety, causing adverse social impact and as a result is increasing inbound aviation safety threats from Hong Kong to the mainland,” it said. It also ordered the carrier to provide identification information for its crew on mainland-bound flights, and said that crew members that do not receive the authority’s approval won’t be allowed into its airspace, including on flights bound for other destinations. Asked if other airlines could benefit from the misfortunes of Cathay Pacific, You said it was possible but “it’s a little bit too early” at the moment, as the Chinese aviation authority was “still waiting” to see the carrier’s response. “If things do significantly … deteriorate then potentially yes, you know, the other airlines such as Air China, China Southern, even foreign airlines at Hong Kong International Airport could benefit from any displaced demand that goes from Cathay to anywhere else,” she said.

‘Very critical period’


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: eustance huang
Keywords: news, cnbc, companies, safety, pacific, airline, international, airport, rebound, shares, kong, cathay, china, airlines, aviation, hong, tough, place


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Cathay Pacific suspends pilot for involvement in Hong Kong protests

Cathay Pacific shares fell more than 4% on Monday after the carrier announced it had suspended a pilot for his involvement in Hong Kong’s anti-government protests. The airline said Saturday that employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. Hong Kong — a former British colony that was returned to Chinese rule in 1997 — has been struggling to end weeks of protests that have in recent w


Cathay Pacific shares fell more than 4% on Monday after the carrier announced it had suspended a pilot for his involvement in Hong Kong’s anti-government protests. The airline said Saturday that employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. Hong Kong — a former British colony that was returned to Chinese rule in 1997 — has been struggling to end weeks of protests that have in recent w
Cathay Pacific suspends pilot for involvement in Hong Kong protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: grace shao
Keywords: news, cnbc, companies, pacific, pilot, china, suspends, involvement, violent, kong, protests, weeks, turned, hong, unrest, mainland, cathay, flights


Cathay Pacific suspends pilot for involvement in Hong Kong protests

Cathay Pacific shares fell more than 4% on Monday after the carrier announced it had suspended a pilot for his involvement in Hong Kong’s anti-government protests.

The airline said Saturday that employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. It also confirmed that one of its pilots was removed from his duties since July 30.

The pilot was reportedly among over 40 people charged with rioting, during clashes with police near Beijing’s main representative office in the city.

Hong Kong — a former British colony that was returned to Chinese rule in 1997 — has been struggling to end weeks of protests that have in recent weeks turned increasingly violent and disruptive.

The rallies, which were started to protest a bill that would have allowed people to be extradited to mainland China, have snowballed into a democracy movement, with some even demanding full autonomy from Beijing.

The unrest has frequently crippled the Asian financial hub’s transportation system and last Monday, Cathay cancelled hundreds of flights during a general strike.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: grace shao
Keywords: news, cnbc, companies, pacific, pilot, china, suspends, involvement, violent, kong, protests, weeks, turned, hong, unrest, mainland, cathay, flights


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Cathay Pacific reveals it’s monitoring passengers with onboard cameras

A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019Hong Kong flag carrier Cathay Pacific has fueled new privacy concerns after revealing that it monitors passengers via onboard cameras. The footage, captured via CCTV cameras located around the aircraft, is intended for “security purposes,” according to Cathay. The company did not immediately respond to CNBC’s request to reveal the specific locations of the


A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019Hong Kong flag carrier Cathay Pacific has fueled new privacy concerns after revealing that it monitors passengers via onboard cameras. The footage, captured via CCTV cameras located around the aircraft, is intended for “security purposes,” according to Cathay. The company did not immediately respond to CNBC’s request to reveal the specific locations of the
Cathay Pacific reveals it’s monitoring passengers with onboard cameras Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: karen gilchrist
Keywords: news, cnbc, companies, onboard, systems, privacy, pacific, data, cameras, passengers, installed, monitoring, cathay, cctv, reveals, policy


Cathay Pacific reveals it's monitoring passengers with onboard cameras

A view from a Cathy Pacific Jet which see another Cathay Pacific Jet Park in Hong Kong International Airport in Hong Kong, China. 23 May 2019

Hong Kong flag carrier Cathay Pacific has fueled new privacy concerns after revealing that it monitors passengers via onboard cameras.

The footage, captured via CCTV cameras located around the aircraft, is intended for “security purposes,” according to Cathay.

The airline announced in an updated privacy policy, published at the end of July, that it has been collecting footage of passengers whilst on board and recording their use of its in-flight entertainment system.

“In line with standard practice and to protect our customers and frontline staff, there are CCTV cameras installed in our airport lounges and onboard aircraft for security purposes,” Cathay Pacific said in a statement seen by The Independent.

The company did not immediately respond to CNBC’s request to reveal the specific locations of the CCTV cameras. However, it said in the statement that “there are no CCTV cameras installed in the lavatories” or in their in-flight entertainment systems (IFEs).

The announcement comes months after it was revealed that multiple airlines have cameras installed in their IFE systems. American Airlines, Singapore Airlines and Emirates said at the time that they had no plans to activate their cameras.

Cathay Pacific, for its part, said it has never installed such devices in its IFEs.

“Our inflight entertainment systems do not have any cameras, microphones or sensors to monitor passengers, nor have they in the past,” it said in the statement.

However, the airline, which is often ranked among the world’s best, has come into privacy issues of its own in the past. In October 2018, Cathay reported a data breach that potentially impacted more than nine million passengers.

In its updated policy, the airline said its data collection processes were intended to improve the flying experience and enable greater personalization. However, it added that personal data may also be shared with third-party partners for marketing purposes.

“We will retain your personal data for as long as is necessary,” the policy says.


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: karen gilchrist
Keywords: news, cnbc, companies, onboard, systems, privacy, pacific, data, cameras, passengers, installed, monitoring, cathay, cctv, reveals, policy


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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
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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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