|Bid||1.5100 x 5000000|
|Ask||1.5600 x 5000000|
|Day's Range||1.5000 - 1.5000|
|52 Week Range||1.0900 - 1.5300|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Paul Yong of DBS Bank says he expects Cathay Pacific's earnings to be driven higher in 2019 because of lower fuel prices and a strong cargo business.
Hong Kong's Cathay Pacific Airways Ltd, 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 Co Ltd.
Cathay Pacific Airways Limited (OTC: CPCAY), the Hong Kong-based airline, released its full-year financial results for 2018: the biggest news was that after two years of losses, CPCAY returned to profitability. Cathay Pacific has come under pressure in recent years from the rapid expansion of Chinese budget airlines and, on the other side of the price spectrum, from increased competition from premium carriers like Emirates and Etihad, which offer similar luxury experiences. Chief Executive Officer Rupert Hogg, who took over Cathay Pacific two years ago, laid off more than 600 employees and pulled back from some overseas business after miscalculated fuel hedging doubled its 2017 losses.
Despite recent controversy surrounding aircraft manufacturer Boeing after Sunday's crash of a new 737 Max Ethiopian Airlines plane, Cathay Pacific's CEO said Thursday the airline is "very happy" with its Boeing fleet.
Asked what had prompted the shift after annual results Wednesday, Chairman John Slosar seemed to be paraphrasing a remark attributed to John Maynard Keynes(2): “You have to be willing to change when events change, when opportunities present themselves,” he told reporters. For one thing, Cathay’s business model is already looking more and more like that of a budget carrier (perpetually disgruntled passengers often say the same of the flying experience, though this columnist has no complaints).
SINGAPORE/HONG KONG (Reuters) - Cathay Pacific Airways Ltd is "reasonably optimistic" about passenger and cargo markets this year despite recognising challenges ahead, its chairman said, after the Hong Kong airline earlier reported a profit for the first time in three years. The challenges include geopolitical discord, global trade tensions and intense competition that could dampen cargo demand as well as passenger demand particularly on long-haul routes in economy class, Chairman John Slosar said in a statement. Cathay raked in a HK$2.35 billion profit ($299.37 million) for the year ended December as it benefited from rising airfares and a turnaround plan designed to lower costs and boost revenue.
HONG KONG, March 13 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it is "reasonably optimistic" on the outlook for the passenger and cargo markets this year, although it ...
March 13 (Reuters) - Cathay Pacific Airways Ltd: * DECLARED DIVIDEND OF HK$ 0.30 PER SHARE * FY PROFIT ATTRIBUTABLE HK$2,345 MILLION VERSUS LOSS OF HK$1,259 MILLION * FY REVENUE HK$111,060 MILLION VERSUS ...
HONG KONG/SINGAPORE (Reuters) - Hong Kong flagship carrier Cathay Pacific Airways Ltd said on Tuesday it is in "active discussions" about an acquisition involving budget airline Hong Kong Express Airways Ltd, although an agreement has yet to be reached. Such a deal would give Cathay exposure to the growing budget-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 Ltd and Qantas Airways Ltd and set up its own budget brand. The Hong Kong carrier has instead shifted some destinations from its main brand to its regional carrier, Cathay Dragon, as part of a transformation plan designed to cut costs and increase revenue.
Cathay is in “active discussions” about an acquisition involving Hong Kong Express Airways Ltd., the marquee carrier said in a statement Tuesday. There can be no certainty that any agreement will be entered into, Cathay said. The stake purchase would give Cathay a critical foothold in the market for budget-conscious travelers that’s eaten into demand for some of its routes as it undertakes a three-year transformation program.
March 5 (Reuters) - Cathay Pacific Airways Ltd: * COMPANY IS IN ACTIVE DISCUSSIONS ABOUT AN ACQUISITION INVOLVING HKE * NOTES MEDIA REPORTS ON POSSIBLE ACQUISITION OF SHARES IN HONG KONG EXPRESS AIRWAYS ...
Cathay Pacific has held preliminary talks with HNA about acquiring minority stakes in Hong Kong Express Airways Ltd. and Hong Kong Airlines Ltd., according to the people. A couple of local tycoons have also been considering investments in Hong Kong Airlines, one of the people said, asking not to be identified because the information is private.
Benefiting also from improving airfares, Cathay forecast it would swing to a profit of about HK$2.3 billion ($293 million) for 2018 after two straight years in the red. Shares surged by as much as 8.8 percent on the promising outlook, their biggest one-day jump since October 2011. Cathay said in a statement that its passenger business had benefited from capacity growth and improved revenue management, with average airfare prices up despite competitive pressures.
Feb 20 (Reuters) - Cathay Pacific Airways Ltd: * JAN CATHAY PACIFIC AND CATHAY DRAGON CARRIED A TOTAL OF 3.1 MLN PASSENGERS LAST MONTH, AN INCREASE OF 7.4% * JAN CATHAY PACIFIC AND CATHAY DRAGON PASSENGER ...
Cathay Pacific Airways is closing its cabin crew base in Toronto as part of a business review, potentially affecting 120 workers in the Canadian city. The Hong Kong-based airline is talking with the union to explore options for the employees, including opportunities in other locations, it said Tuesday in an emailed response to a report […] The post Cathay’s Cost-Cutting Continues With Toronto Closure appeared first on Skift.
Jan 15 (Reuters) - Cathay Pacific Airways Ltd: * CATHAY PACIFIC & CATHAY DRAGON CARRIED A TOTAL OF 3.1 MILLION PASSENGERS IN DEC, UP 1.8% COMPARED TO DEC 2017 * CATHAY PACIFIC AND CATHAY DRAGON PASSENGER ...
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 Years 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. The tickets are for flights from Vietnam to New York on Cathay Pacific for around $675 return instead of about $16,000 normally.
"Happy 2019 all," wrote Cathay over Twitter on Jan. 2, "and to those who bought our good - VERY good surprise 'special' on New Year's Day, yes - we made a mistake but we look forward to welcoming you on board with your ticket issued. "You can fly from Southeast Asia (Vietnam) to New York in Cathay Pacific business class from $675 roundtrip.
Dec 17 (Reuters) - Cathay Pacific Airways Ltd: * CATHAY PACIFIC AND CATHAY DRAGON CARRIED A TOTAL OF 2.9 MILLION PASSENGERS IN NOVEMBER, AN INCREASE OF 1.4% * NOV PASSENGER LOAD FACTOR DECREASED 0.3 PERCENTAGE ...
Nov 30 (Reuters) - Cathay Pacific Airways Ltd: * CHAN BERNARD CHARNWUT HAS BEEN APPOINTED AS AN INDEPENDENT NON- EXECUTIVE DIRECTOR * WONG TUNG SHUN PETER HAS RESIGNED AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR ...
Nov 21 (Reuters) - Cathay Pacific Airways Ltd: * OCTOBER CATHAY PACIFIC AND CATHAY DRAGON PASSENGER LOAD FACTOR INCREASED 0.3 PERCENTAGE POINTS TO 81.6% * OCTOBER CATHAY PACIFIC AND CATHAY DRAGON CARGO ...