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Cathay Revenue Shock - Again

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  1. #21

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    Quote Originally Posted by shri:
    I used to think so .... until I started meeting some top level civil servants through Rotary and other organisations. The were servants of the British, doing their bidding and now they're servants of China. Servants for ever, leaders ... well never.
    I suppose that is right, I was speaking more generally about Hong Kong's core strengths..being location, transportation, highly educated work force and rule of law. It's a shame, because with proper leadership and the freedom to make changes, Hong Kong could easily pull out of it's decline.

  2. #22

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    Quote Originally Posted by er2:
    Recovery from what? Unemployment is 3.5%. Most companies I spoke to are talking about hiring, not layoffs, and most people in my social circle are looking for jobs because they want something better, not because they lost theirs.

    An overpriced airline having reduced profit margins and landlords being unable to make double-digit ROI - is this our new definition of a crisis?
    I take it you missed the latest GDP figures on the news. I did not say it is a crisis but the economy has definitely got a cold.

  3. #23

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    Quote Originally Posted by shri:
    @er2 we must be in parallel universes. There is a very significant business slowdown and lots of expats both recent and lifers who are leaving town. More than usual years.
    More likely just very different standards of crisis (and yes, parallel universes insofar as that most of my social circle is mid to junior level locals rather than expats). Yeah, the boom of the last few years - everything goes up in price overnight - seems to be over, but that's not even a bad thing in my book, let alone a crisis. I'd rather say we're currently recovering from some massive distortions in the regional economy over the last few years.

    To illustrate - I know that construction business has slowed down to the point that many of the big firms have told seconded staff from overseas to return. Yes, talking to them it feels like a crisis - but can an economy where you need to hire fresh grads from overseas for engineering jobs really be expected as 'normal'.

    @hullexile - given how heavily property sales contribute to Hong Kong's GDP, any drop in property prices is bound to have a huge impact on growth rates. Problem for LKS and the like, but I don't see ordinary folks being hit too hard by this. GDP is a shitty metric for places like HK and Singapore
    shri likes this.

  4. #24

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    Lee has health problems. I wonder why


  5. #25

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    Cathay Pacific to unveil its largest ever business class lounge as complaints about finances persist | South China Morning Post

    Does this really make sense given the latest cost-cutting measures? I understand they are trying to improve their premium cabin loading but is this the best way to go about it?

  6. #26

    Great. Look forward to the new business lounge. Everything else is just background noise.


  7. #27

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    Cathay shares have lost 37% in the past 12 months .... wow, what the hell is going on?


  8. #28

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    Revenue might be better if they stopped nickel and diming Business and First passengers by giving them mediocre catering.


  9. #29

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    Interesting reading some of the old comments from last year.

    Cathay Pacific Airways Ltd. reported its first loss in eight years and scrapped plans for a second-half dividend after competition from Chinese airlines and losses from fuel hedging dented earnings.

    The net loss totaled HK$575 million ($74 million) in 2016, Hong Kong-based Cathay said in a statement Wednesday. That compares with the median profit estimate of HK$450 million in a Bloomberg News survey of nine analysts. Sales at Asia’s largest international airline dropped 9.4 percent to HK$92.8 billion.
    https://www.bloomberg.com/news/artic...chinese-rivals

  10. #30

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    I've been flying between HK and London for ten years and have still never used Cathay. There are always direct flights available cheaper with either BA or Virgin. In the past there was Air New Zealand doing the route too.

    It doesn't strike me that Cathay should be worth paying more for.