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  • November 24, 2014
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  1. Boeing defends industry on claims of overcharging

    Posted Sep 10th 2009, 12:00am by Charlotte So

    ... to the industry's financial woes in a year it was expected to lose US$9 billion. The lead time between an airline ordering a plane and taking possession is at least five years so prices for airframes, ... Tyler's comments reflect frustration that escalation clauses are still an industry standard at a time carriers are attempting to stay afloat. Manufacturers are also doing it tough. Boeing has ...

  2. Oil prices may help Cathay reverse loss

    Posted Aug 03rd 2009, 12:00am by Charlotte So

    ... budgets. About 16 of Cathay's top 20 corporate clients are from the financial industry. The drop in overall passengers has stabilised, but the more competitive environment has spurred sharp ...

  3. Liquidators appointed at Norstar amid slump, soured forex trades

    Posted Feb 07th 2009, 12:00am by Charlotte So, Kandy Wong

    ... of Shanghai has granted a freeze order against the bank accounts and related assets of the company at the request of Shanghai Industrial Investment. Norstar's financial controller and executive ... in a statement. The Beijing-based company, which supplies car parts to major carmakers such as state-backed Beijing Automotive Industry Corp, employs 2,300 staff. The Hong Kong-listed car component maker ...

  4. Cathay slides on talk of new share issue

    Posted Aug 07th 2009, 12:00am by Charlotte So

    ... to subscribe new shares due to their own financial problems. Meanwhile, overcapacity in the airline industry globally is making Cathay's management cautious about the outlook. Recovery ... clients come from the financial sector. Deteriorating demand for premium travel and ticket price cuts have sent Cathay's passenger yield, which refers to revenue per seat per kilometre, down ...

  5. Citic Bank, CCB audits uncover irregularities

    Posted Jun 23rd 2009, 12:00am by Charlotte So

    ... the bank's overall operational performance, the bank said. In Citic Bank's case, the agency found that certain branches or sub-branches failed to strictly adhere to the state's financial ... All irregular or misappropriated loans have been recovered or rectified. As a result, the issues identified in the audit had no impact on the bank and its financial statements, the bank said. ...

  6. Cash aid fuels surge in mainland carriers

    Posted Dec 12th 2008, 12:00am by Charlotte So

    ... Charlotte So Shares in China Southern Airlines and China Eastern Airlines Corp surged more than 40 per cent yesterday on news of large cash injections and speculation of further industry ... said Cazenove transport analyst Andrew Au. 'It is likely to be followed by a much wider industry restructuring.' Industry observers widely expect China Eastern to be merged ...

  7. Former airport chief given death sentence

    Posted Feb 12th 2009, 12:00am by Charlotte So

    ... handed down to a senior official from the aviation industry in six months. In August, Chen Liming, the former group financial director of China Southern Air Holding, the parent of China Southern ...

  8. Cathay extends cost-cutting efforts

    Posted Apr 18th 2009, 12:00am by Charlotte So

    ... financial crisis and the Sars epidemic. Its share price declined 3.45 per cent to HK$9.25 yesterday on the news. In 1998, Cathay's sales dropped 13 per cent year on year after the Asian financial crisis slowed air traffic. In the first half in 2003, when Sars battered the industry, sales declined by 21 per cent. Chief executive Tony Tyler said this year that even the no-pay leave ...

  9. Cathay may delay cargo terminal

    Posted Nov 14th 2008, 12:00am by Charlotte So

    ... of Cathay's long-term commitment and confidence in Hong Kong's air cargo market. But because of the unprecedented downturn in the financial markets and aviation traffic, the carrier planned to suspend construction for about a year, an industry source said. A Cathay spokesman said 'the timing of all capital expenditure is under scrutiny' because of the current economic ...

  10. Air China to delay purchase of China Eastern

    Posted Sep 18th 2008, 12:00am by Charlotte So

    ... Charlotte So Air China has postponed plans to buy China Eastern Airlines Corp as the airline industry might take as long as two years to recover from the financial turmoil in the United ... Mr Kong said commercial considerations should give way to government decisions when it came to industry consolidation, contrasting Mr Li's market-driven motive behind Air China's ...




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