Cathay Pacific Airways Ltd (0293.HK)
29 Mar 2017
* Deal means China's big 3 airlines have foreign stakeholders
FRANKFURT, March 27 Lufthansa and Cathay Pacific will sell tickets on some of each other's routes, boosting the German group's Asia-Pacific network and deepening a partnership in which the airlines already cooperate on freight flights.
FRANKFURT, March 27 Lufthansa and Cathay Pacific will jointly sell tickets on some routes, deepening a partnership that already sees the two cooperate on freight routes, the two carriers said on Monday.
SYDNEY/SHANGHAI Cathay Pacific Airways Ltd plans to cut the cost of middle and senior management roles at its Hong Kong head office by 30 percent, according to an internal memo a day after the airline reported its first annual loss since 2008.
* Plans to cut some middle & senior management roles in Hong Kong
SYDNEY, March 16 Cathay Pacific Airways Ltd plans to cut the cost of middle and senior management roles at its Hong Kong head office by 30 percent, according to an internal memo seen by Reuters, a day after the airline reported its first annual loss since 2008.
* FY net profit HK$ 9,644 million versus HK$13,429 million a year ago
HONG KONG (Reuters Breakingviews) - Cathay Pacific's first loss since 2008 points to an existential threat. Asian rivals are undercutting the Hong Kong carrier on long-haul trips; budget airlines poach the short ones. But management looks in denial. Focusing on high-value routes and aggressive restructuring would fly further.
SHANGHAI Cathay Pacific Airways on Wednesday reported its first full-year loss since the 2008 global financial crisis, as overcapacity and mounting competition from mainland Chinese carriers continued to drag on demand.
BRIEF-Cathay Pacific and Synchrony Financial launch visa credit card with rewards for U.S. travelers
* Cathay Pacific and Synchrony Financial launch co-branded visa credit card with exclusive rewards for U.S. travelers Source text for Eikon: Further company coverage: