Cathay Pacific Airways Limited has unveiled its financial results for the year 2023, indicating a significant shift from previous losses to a sizeable profit and a substantial increase in revenue. The airline, which serves as Hong Kong’s flagship carrier, reported an 85.1% jump in revenue to HK$94,485 million from HK$51,036 million in 2022. It also
Analysts suggest that the recovery time for some of the international aviation community’s biggest players, namely Singapore Airlines and Cathay Pacific Airways, will “inevitably” be prolonged compared with the rest of the industry, due to having no domestic market to fall back on. Joanna Lu, head of consultancy for the Asia region at aviation data
Cathay Pacific Airways has said that it has reached an agreement with European manufacturer Airbus to delay the delivery of its latest A350s and A321neos, as well as being in advanced talks with Boeing regarding the deferral of its 777-9 orders. According to the airline, its 12 A350s currently on order to be delivered by
Hong Kong-based Cathay Pacific is considering shifting some of its long-haul planes to desert storage facilities, according to numerous reports.
The government of Hong Kong will take a minority stake in Cathay Pacific as it agrees to bail out the airline to the tune of $5 billion. Cathay Pacific and its parent company Swire Pacific also announced that they plan to raise HK$39 billion ($5 billion) in new capital. Hong Kong’s flag carrier has struggled
While most airlines are sheltering and tightening bootstraps in an attempt to weather the storm surrounding the global coronavirus pandemic, Qatar Airways is taking a much more aggressive approach. Despite having its own struggles due to the pandemic, its CEO Akbar Al Baker has said today that its cargo operations will sustain the airline enough
