https://www.scmp.com/rss/520901/feed The latest news on Patrick Healy, chair of Cathay Pacific and Swire Coca-Cola Limited, including company news and updates. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com SCMP Editorial SCMP Editorial Cathay Pacific Airways posting a third consecutive year of profits was welcome proof the Hong Kong flag carrier has stayed the course to rebuild a solid foundation after pandemic turbulence. After emerging from those dark financial clouds, it must now nimbly navigate the next economic storm – an increasingly unpredictable era of global volatility. Net profit climbed 9.5 per cent to HK$10.82 billion (US$1.38 billion) in 2025, driven by the carrier’s 27 per cent surge in passenger numbers and a... https://www.scmp.com/opinion/comment/article/3346467/cathay-pacific-must-remain-vigilant-navigate-new-turbulence?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3346467/cathay-pacific-must-remain-vigilant-navigate-new-turbulence?utm_source=rss_feed Fri, 13 Mar 2026 22:45:08 +0000 Lam Ka-sing Lam Ka-sing Cathay Pacific Airways’ net profit climbed by 9.5 per cent to HK$10.82 billion (US$1.39 billion) in 2025, driven by increased capacity and robust cargo demand, but the Hong Kong flag carrier has warned of higher fuel surcharges due to conflict in the Middle East, ongoing supply chain disruptions and inflated costs. Cathay Group chairman Patrick Healy said on Wednesday that the results marked the airline’s third consecutive year of profits. But he cautioned that global geopolitical tensions were... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3346177/cathay-posts-95-rise-profit-hk1082-billion-warns-geopolitical-risks?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3346177/cathay-posts-95-rise-profit-hk1082-billion-warns-geopolitical-risks?utm_source=rss_feed Wed, 11 Mar 2026 04:45:46 +0000 Julie Zhang Julie Zhang Guy Bradley will take the helm at Cathay Pacific Airways and Swire Coca-Cola – two of Swire Pacific’s flagship operations in Hong Kong – in May next year, succeeding Patrick Healy who will retire from the group after more than three decades of service. Currently serving as chairman of Swire Pacific, John Swire & Sons (H.K.) and Swire Properties, Bradley will expand his leadership portfolio to encompass the conglomerate’s airline and bottling operations, according to a Swire Pacific announcement... https://www.scmp.com/business/banking-finance/article/3337540/swire-pacifics-guy-bradley-take-reins-hong-kongs-cathay-pacific-swire-coca-cola?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337540/swire-pacifics-guy-bradley-take-reins-hong-kongs-cathay-pacific-swire-coca-cola?utm_source=rss_feed Tue, 23 Dec 2025 14:12:45 +0000 Xiaofei Xu Xiaofei Xu China launched a charm offensive at a new Northern Ireland trade forum on Tuesday, as Beijing’s chief diplomat to the United Kingdom promised fresh investment and opportunities to tap the vast consumer market of the world’s second-largest economy. The efforts come as China’s widening trade surpluses face rising criticism and scrutiny from European countries – including the UK – amid mounting trade tensions between China and the West. “China is Northern Ireland’s second-largest source of imports... https://www.scmp.com/economy/china-economy/article/3332497/china-woos-northern-ireland-promises-boost-investment-trade?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3332497/china-woos-northern-ireland-promises-boost-investment-trade?utm_source=rss_feed Wed, 12 Nov 2025 13:00:15 +0000 Denise Tsang,Cannix Yau Denise Tsang,Cannix Yau Hong Kong’s Cathay Pacific Airways plans to buy back all of its shares owned by Qatar Airways for HK$6.96 billion (US$896 million) after the Middle Eastern airline said it wanted to sell the 9.57 per cent stake, with an analyst pointing to the company’s recent partnership expansion with a leading mainland Chinese carrier. The Hong Kong flag carrier said on Wednesday night that Qatar Airways would sell all 643.07 million shares it held at HK$10.8374 each, subject to the approval of Cathay... https://www.scmp.com/news/hong-kong/transport/article/3331684/hong-kongs-cathay-aims-buy-back-hk696-billion-stake-held-qatar-airways?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3331684/hong-kongs-cathay-aims-buy-back-hk696-billion-stake-held-qatar-airways?utm_source=rss_feed Wed, 05 Nov 2025 16:43:38 +0000 Cannix Yau Cannix Yau Hong Kong flag carrier Cathay Pacific Airways has offered voluntary three-month unpaid leave to cabin crew for the first time since the pandemic for two consecutive quarters, amid modest profit growth forecasts. The company informed its Hong Kong-based cabin crew that applications were open for the fourth quarter of this year via an internal memo, a copy of which was seen by the Post. A source told the Post that the move followed the offering of a first round of unpaid leave of up to three... https://www.scmp.com/news/hong-kong/transport/article/3321496/hong-kongs-cathay-offers-first-post-covid-voluntary-unpaid-leave-2-straight-quarters?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3321496/hong-kongs-cathay-offers-first-post-covid-voluntary-unpaid-leave-2-straight-quarters?utm_source=rss_feed Tue, 12 Aug 2025 00:30:12 +0000 Cannix Yau Cannix Yau Cathay Pacific Airways has reported a 1.1 per cent year-on-year rise in net profit to HK$3.65 billion (US$465 million) for the first six months of 2025 thanks to a resilient cargo business, and plans to order another 14 new aircraft. Hong Kong’s flag carrier announced on Wednesday that it would buy 14 Boeing 777-9 jets as part of an agreement made in 2013 with the US-based manufacturer, under which it earlier ordered 21 aircraft of the same model scheduled for delivery in 2027 or later. Cathay... https://www.scmp.com/news/hong-kong/transport/article/3320901/cathay-pacific-posts-11-rise-first-half-net-profit-hk361-billion?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3320901/cathay-pacific-posts-11-rise-first-half-net-profit-hk361-billion?utm_source=rss_feed Wed, 06 Aug 2025 04:22:01 +0000 Oscar Liu Oscar Liu Hong Kong flag carrier Cathay Pacific Airways’ relaunched direct passenger flights to the Saudi Arabian capital Riyadh will unlock business and travel opportunities between the city and the Middle East despite escalating geopolitics tensions, the financial secretary has said. Paul Chan Mo-po, who was among more than 200 passengers on the inaugural flight CX647 on Monday, is leading a high-profile delegation to Riyadh, with the group scheduled to attend a global summit, the Future Investment... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3284169/cathay-pacifics-hong-kong-riyadh-flights-unlock-business-travel-opportunities-paul-chan?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3284169/cathay-pacifics-hong-kong-riyadh-flights-unlock-business-travel-opportunities-paul-chan?utm_source=rss_feed Mon, 28 Oct 2024 08:50:57 +0000 Hong Kong Airport Authority chairman Fred Lam Tin-fuk had his work cut out for him when he took a delegation to Beijing early last month. He would have to deliver on turning Hong Kong International Airport (HKIA) into a world-class international aviation hub – a vision spelled out in China’s latest five-year national plan. Beijing’s point man on Hong Kong affairs, Xia Baolong, told him the authority running the airport would have to capitalise on its unique advantages under the city’s “one... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3273776/are-hong-kongs-aviation-hub-ambitions-hampered-cathays-pilot-shortage-capacity-issues?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3273776/are-hong-kongs-aviation-hub-ambitions-hampered-cathays-pilot-shortage-capacity-issues?utm_source=rss_feed Fri, 09 Aug 2024 00:30:12 +0000 Hong Kong’s Cathay Pacific Airways has rolled out a major investment initiative of more than HK$100 billion (US$12.8 billion) to be generated over the next seven years, as the flag carrier seeks to embark on a “bold new strategy”. The company revealed on Wednesday that it would buy 30 aircraft on top of the previously ordered 70 as part of its investment drive, taking total orders to more than 100. The announcement was made after the company posted a 15.3 per cent year-on-year decline in net... https://www.scmp.com/news/hong-kong/transport/article/3273524/hong-kongs-cathay-pacific-buy-more-100-aircraft-part-hk100-billion-investment?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3273524/hong-kongs-cathay-pacific-buy-more-100-aircraft-part-hk100-billion-investment?utm_source=rss_feed Wed, 07 Aug 2024 05:35:16 +0000 Hong Kong flag carrier Cathay Pacific Airways’ net profits shrank 15.3 per cent to HK$3.61 billion (US$460 million) in the first six months of the year against the same period in 2023 as airfares descended from abnormal heights. Group chairman Patrick Healy said the results were strong and driven by robust demand for travel, despite the smaller profits, and revealed the company would make its first post-pandemic interim dividend payments, at 20 HK cents a share. “The first half of 2024 was... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3273513/hong-kongs-cathay-reports-1925-drop-profits-reeling-hk384-billion-first-six-months?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3273513/hong-kongs-cathay-reports-1925-drop-profits-reeling-hk384-billion-first-six-months?utm_source=rss_feed Wed, 07 Aug 2024 04:55:46 +0000 Cathay Pacific Airways has had an arduous struggle to recover from the pandemic. Hit hard when passenger traffic was decimated by quarantine restrictions, it shed staff including pilots and crew and took a multibillion-dollar bailout from the government in 2020 to survive. Its once vaunted service suffered, while limited flights and higher fares led to sustained grumbling even among loyal passengers. So when it announced earlier this year that it had returned to profitability for the first time... https://www.scmp.com/opinion/comment/article/3265538/high-expectations-hong-kongs-cathay-executives-deliver-after-pay-rise?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3265538/high-expectations-hong-kongs-cathay-executives-deliver-after-pay-rise?utm_source=rss_feed Wed, 05 Jun 2024 22:15:08 +0000 The head of a global airline association remains upbeat about Hong Kong fully regaining its status as an international aviation hub by the end of this year, even though the city’s flag carrier had pushed back its target of restoring capacity to pre-pandemic levels to early 2025. Willie Walsh, director general of the International Air Transport Association (IATA), told the Post in Dubai on Tuesday that he went from being pessimistic to optimistic over Hong Kong’s ability to recover its aviation... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3265394/hong-kong-should-fully-regain-status-global-aviation-hub-end-year-global-airline-body-says?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3265394/hong-kong-should-fully-regain-status-global-aviation-hub-end-year-global-airline-body-says?utm_source=rss_feed Tue, 04 Jun 2024 15:19:21 +0000 Hong Kong flag carrier Cathay Pacific Airways will not expand into new routes until after it restores full capacity by the first quarter of next year, its chairman has said, adding that speeding up its timeline “is not the right thing to do”. Cathay chairman Patrick Healy told the Post on Monday that the carrier had no plans yet to expand its network or bring forward its target despite now reaching 80 per cent of the pre-pandemic capacity. “At the moment we are still building back the network... https://www.scmp.com/news/hong-kong/transport/article/3265225/hong-kong-flag-carrier-cathay-pacific-sticking-rebuilding-plan-new-routes-coming-only-after-return?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3265225/hong-kong-flag-carrier-cathay-pacific-sticking-rebuilding-plan-new-routes-coming-only-after-return?utm_source=rss_feed Mon, 03 Jun 2024 12:16:55 +0000 Top bosses at Hong Kong’s Cathay Pacific Airways were paid about 20 per cent more last year than they received in 2019 before the pandemic, with some enjoying substantial salary rises despite the flag carrier’s ongoing struggle to return to full capacity. According to its latest annual report, the company paid about HK$60.62 million (US$7.8 million) to its 20 executive directors last year, up 21.6 per cent compared with HK$49.84 million in 2022 when Hong Kong was still gripped by the Covid-19... https://www.scmp.com/news/hong-kong/transport/article/3262759/pay-hong-kong-cathay-pacific-top-bosses-20-higher-pandemic?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3262759/pay-hong-kong-cathay-pacific-top-bosses-20-higher-pandemic?utm_source=rss_feed Wed, 15 May 2024 07:12:11 +0000 Signs that Hong Kong’s aviation sector is taking off after years of pandemic headwinds emerged this week. While the positive recovery witnessed by the city’s flagship carrier and cargo handlers is to be welcomed, operators must address concerns about staffing and customer service so the industry may maintain its trajectory. Cathay Pacific Airways reported its first profit in four years on Wednesday. Group chairman Patrick Healy said the company had “finally left the Covid-19 pandemic behind”,... https://www.scmp.com/comment/opinion/article/3255433/hong-kongs-cathay-must-address-hopes-lower-fares-and-improved-service?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3255433/hong-kongs-cathay-must-address-hopes-lower-fares-and-improved-service?utm_source=rss_feed Thu, 14 Mar 2024 22:15:13 +0000 Hong Kong flag carrier Cathay Pacific Airways reported its first annual profit in four years on Wednesday but said it had learned a lesson from recent flight cancellation setbacks amid pilot shortages and decided to push back its target for restoring pre-pandemic capacity to early 2025. The company revealed on Wednesday that it made a net profit of HK$9.78 billion (US$1.3 billion) last year after a net loss of HK$6.62 billion in 2022, marking a strong post-pandemic recovery and ending a string... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3255186/covid-behind-us-hong-kongs-cathay-pacific-group-soars-hk978-billion-net-profit-after-3-years-losses?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3255186/covid-behind-us-hong-kongs-cathay-pacific-group-soars-hk978-billion-net-profit-after-3-years-losses?utm_source=rss_feed Wed, 13 Mar 2024 04:32:59 +0000 At EcoPark, Hong Kong’s first recycling business park in New Territories, New Life Plastics (NLP) has been running the city’s largest food-grade plastics recycling facility aspiring to process a quarter of the city’s 4.7 million plastic drink containers landfilled daily. At the December 2022 opening ceremony of the state-of-the art, 6,500-square-metre plant that cost US$11.6 million to build, Patrick Healy, chairman of Swire Coca-Cola said setting up NLP was a “huge step” towards the Hong... https://www.scmp.com/business/article/3253787/how-hong-kong-can-rescue-struggling-recycling-industry-and-win-its-war-plastic-waste?utm_source=rss_feed https://www.scmp.com/business/article/3253787/how-hong-kong-can-rescue-struggling-recycling-industry-and-win-its-war-plastic-waste?utm_source=rss_feed Sat, 02 Mar 2024 05:30:10 +0000 [The content of this article has been produced by our advertising partner.] Upon boarding an aircraft, most of us anticipate the in-flight entertainment and gourmet dining experiences, or simply hope to get some quality rest before reaching our destination. Only a handful of us consider the possibility of an emergency situation.   However, emergencies do occur, even tens of thousands of feet up in the air.   When cabin crew member Niki Lee recounts the incident involving a three-year-old boy on... https://www.scmp.com/presented/business/topics/cathay-honours-staffs-professionalism/article/3238589/cathay-recognises-employees-exceptional-customer-services-and-contributions-behind-scenes-annual?utm_source=rss_feed https://www.scmp.com/presented/business/topics/cathay-honours-staffs-professionalism/article/3238589/cathay-recognises-employees-exceptional-customer-services-and-contributions-behind-scenes-annual?utm_source=rss_feed Tue, 24 Oct 2023 02:00:49 +0000 For the first time in three years, Hong Kong’s flagship airline has reported a net profit, a result that has given a lift to hopes the business environment is rising clear of pandemic clouds. With many challenges ahead, it is important that the carrier and community remain focused to avoid stalling the path to recovery. The net profit figure reported on Wednesday by Cathay Pacific Airways stood at HK$4.26 billion (US$546 million) for the first half of 2023. The figure included a one-off gain of... https://www.scmp.com/comment/opinion/article/3230904/cathay-result-gives-hope-business-path-recovery?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3230904/cathay-result-gives-hope-business-path-recovery?utm_source=rss_feed Sat, 12 Aug 2023 21:30:10 +0000 Hong Kong’s Cathay Pacific Airways has reported a net profit of HK$4.26 billion (US$546 million) for the first half of 2023, its first in three years as the city’s flagship carrier moves past the impact of the Covid-19 pandemic in an improving business environment. The figures released on Wednesday represented a turnaround in performance for the airline and prompted Cathay to announce that it planned to buy back company shares held by the Hong Kong government and purchase up to 32 Airbus... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3230465/earnings-hong-kongs-cathay-pacific-soar-hk426-billion-first-half-2023-marking-first-profit-3-years?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3230465/earnings-hong-kongs-cathay-pacific-soar-hk426-billion-first-half-2023-marking-first-profit-3-years?utm_source=rss_feed Wed, 09 Aug 2023 04:11:23 +0000 In the early 2000s, I was tasked by the then Central Policy Unit to tackle the biggest aviation question of the day: would Hong Kong really need a third runway and when? The conclusion was clear at the time: not only would a third runway be needed, but it would open and be operating at full capacity in the early 2020s. We suggested with a degree of embarrassment that the government would need to consider a fourth runway. The next question was where we might put it, with the awkward but... https://www.scmp.com/comment/opinion/article/3224295/hong-kongs-future-aviation-hub-air?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3224295/hong-kongs-future-aviation-hub-air?utm_source=rss_feed Fri, 16 Jun 2023 22:15:08 +0000 Cathay Pacific Airways is battling a manpower crunch and air fares are not expected to come down until the end of next year, the boss of Hong Kong’s flagship carrier has said, while an analyst has warned the city’s aviation hub status could suffer as a result of industry-wide staff shortages. Cathay Pacific CEO Ronald Lam Siu-por revealed the staffing problems at the company’s annual shareholder meeting on Wednesday. The carrier is looking to deploy cadet pilots to work with customers at Hong... https://www.scmp.com/news/hong-kong/transport/article/3220047/hong-kongs-cathay-pacific-ticket-prices-wont-drop-until-end-next-year-amid-manpower-crunch-ceo-says?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3220047/hong-kongs-cathay-pacific-ticket-prices-wont-drop-until-end-next-year-amid-manpower-crunch-ceo-says?utm_source=rss_feed Wed, 10 May 2023 06:53:00 +0000 Hong Kong’s Cathay Pacific Airways on Wednesday posted a bigger loss of HK$6.5 billion (US$828 million) for 2022, 18.5 per cent higher than the year before, but vowed to start repaying HK$1.5 billion in deferred share dividends it owed the government in 2023. The shortfall marked a continued decline for the city’s flagship carrier after it sustained losses of HK$5.5 billion in 2021. But the company’s core airline operations rebounded to a HK$2.26 billion profit during the last six months of... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3212762/hong-kongs-cathay-pacific-posts-bigger-loss-hk65-billion-2022-vows-rebuild-brand?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3212762/hong-kongs-cathay-pacific-posts-bigger-loss-hk65-billion-2022-vows-rebuild-brand?utm_source=rss_feed Wed, 08 Mar 2023 04:20:34 +0000 Cathay Pacific Airways will boost the number of flights to Thailand’s capital and the country’s holiday destinations, as the carrier aims to play a bigger role in Hong Kong’s bid to seek closer ties with other countries in the region, group chairman Patrick Healy has said. His comments on Monday came as Cathay CEO Augustus Tang Kin-wing told employees in an internal memo that the airline was moving from “survival to recovery”, and that eligible Hong Kong-based staff would see their average basic... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3200354/cathay-pacific-set-boost-flights-bangkok-holiday-destinations-thailand-airline-looks-connect-hong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3200354/cathay-pacific-set-boost-flights-bangkok-holiday-destinations-thailand-airline-looks-connect-hong?utm_source=rss_feed Mon, 21 Nov 2022 04:33:00 +0000 Hong Kong’s flagship carrier Cathay Pacific has appointed chief customer and commercial officer Ronald Lam Siu-por as its next CEO, as the airline seeks to increase flight capacity following the decline of the Covid-19 pandemic and increased travel demand. Lam, 50, would take over the reins from Augustus Tang Kin-wing from January next year, the company announced on Wednesday. “Ronald will lead the airline through its post-Covid recovery and the introduction of the three-runway system at Hong... https://www.scmp.com/news/hong-kong/transport/article/3199020/hong-kongs-cathay-pacific-appoints-ronald-lam-ceo-it-builds-flight-capacity-satisfy-post-coronavirus?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3199020/hong-kongs-cathay-pacific-appoints-ronald-lam-ceo-it-builds-flight-capacity-satisfy-post-coronavirus?utm_source=rss_feed Wed, 09 Nov 2022 09:56:31 +0000 Singapore’s Changi Airport has emerged as the leader among Asian airports in terms of international passenger traffic for the second quarter of this year, with Hong Kong not even making the top 10 and leaving analysts pessimistic about its pace of recovery. Aviation experts said they expected the gap between the rival airports to widen, with a global airline industry group warning that Hong Kong had a long way to go to catch up with the rest of Asia and the world. International travel rebounded... https://www.scmp.com/news/hong-kong/transport/article/3188853/hong-kong-airport-languishes-singapore-changi-asias-no-1?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3188853/hong-kong-airport-languishes-singapore-changi-asias-no-1?utm_source=rss_feed Sun, 14 Aug 2022 14:00:20 +0000 Asian conglomerate Swire Pacific is buying back HK$4 billion (US$510 million) worth of its own shares in one of Hong Kong’s biggest buy-back mandates, as its profits in the first six months of the year rose 38 per cent year on year. The company reported an underlying profit of HK$1.7 billion for the first six months, compared with HK$1.3 billion in the first half of 2021. It attributed the improvement largely to Swire unit and de facto flag carrier Cathay Pacific, which narrowed its losses in... https://www.scmp.com/business/article/3188521/swire-pacific-buy-back-us510-million-shares-defying-short-term-challenges?utm_source=rss_feed https://www.scmp.com/business/article/3188521/swire-pacific-buy-back-us510-million-shares-defying-short-term-challenges?utm_source=rss_feed Thu, 11 Aug 2022 07:20:51 +0000 Hong Kong’s Cathay Pacific Airways has announced a loss of HK$4.99 billion (US$636.8 million) for the first half of 2022, 33.9 per cent down from the same period last year amid a strong rebound in passenger flights. The figure, which is smaller than the HK$7.56 billion loss recorded in the first six months of 2021, was released as the city’s flagship carrier on Wednesday warned that Hong Kong had fallen “far behind” other international aviation hubs. Cathay chairman Patrick Healy said the city’s... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3188365/hong-kongs-cathay-pacific-airways-posts-loss?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3188365/hong-kongs-cathay-pacific-airways-posts-loss?utm_source=rss_feed Wed, 10 Aug 2022 04:28:42 +0000 Hong Kong flagship carrier Cathay Pacific Airways on Tuesday said it would be able to access a HK$7.8 billion (US$1 billion) loan facility in the next 12 months after the government extended the drawdown period of the capital as part of its 2020 bailout plan. The loan facility was extended for the second time in two years. Cathay CEO Augustus Tang Kin-wing said the airline did not need to draw down the loan in the past 12 months due to “prudent cash management”, despite a “difficult operational... https://www.scmp.com/news/hong-kong/transport/article/3180782/cathay-pacific-given-access-hk78-billion-loan-hong-kong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3180782/cathay-pacific-given-access-hk78-billion-loan-hong-kong?utm_source=rss_feed Tue, 07 Jun 2022 13:41:27 +0000 Two of Hong Kong’s largest business chambers have called on the next government to scrap quarantine requirements for travellers or risk jeopardising the city’s recovery. The Hong Kong General Chamber of Commerce on Tuesday said it hoped the new administration of John Lee Ka-chiu would prioritise the resumption of regular travel with mainland China and the rest of the world, as the existing curbs were undermining the city’s economy. But chairwoman Betty Yuen So Siu-mai acknowledged that while... https://www.scmp.com/news/hong-kong/health-environment/article/3177972/hong-kongs-next-government-should-scrap?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3177972/hong-kongs-next-government-should-scrap?utm_source=rss_feed Tue, 17 May 2022 00:00:27 +0000 There was a time when the disruptions brought about by Covid-19 didn’t have a sense of permanence to them. The masks would soon come off. School closures weren’t a big deal – everyone would fall behind together. The “new normal” had an uplifting ring to it. At that time, we had faith in our health system, in the community and in ourselves. Covid-19 was called the “novel coronavirus” then – and the chance to pause was a nice novelty. We realised we didn’t need a lot of stuff, except toilet paper.... https://www.scmp.com/comment/opinion/hong-kong/article/3177601/long-pandemic-recovery-ahead-hong-kongs-new-normal-still?utm_source=rss_feed https://www.scmp.com/comment/opinion/hong-kong/article/3177601/long-pandemic-recovery-ahead-hong-kongs-new-normal-still?utm_source=rss_feed Sun, 15 May 2022 22:45:25 +0000 Cathay Pacific’s chairman has warned that Hong Kong is “falling behind” as the rest of the world opens up to travel following the decline of the Covid-19 pandemic, but said the recent relaxation of quarantine restrictions would help the airline reduce its cash burn rate. The airline on Wednesday said it expected its cash burn would fall below HK$500 million (US$64 million) “for the next few months,” down from the HK$1 billion to HK$1.5 billion it has been burning monthly since February. Earlier... https://www.scmp.com/news/hong-kong/transport/article/3177334/coronavirus-cathay-pacific-chairman-admits-hong-kong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3177334/coronavirus-cathay-pacific-chairman-admits-hong-kong?utm_source=rss_feed Wed, 11 May 2022 09:42:09 +0000 Just as you think nothing can get worse, it does. I’m not talking about the Hong Kong government’s management of the Covid-19 pandemic. I’m talking about aviation. I marvelled last week at the impossibly measured patience of Cathay Pacific as it reported stupendous losses and the depressing absence of light at the end of any tunnel. The melancholic lyrics of the 1968 Beatles ballad Blackbird sprang to mind: “Take these broken wings and learn to fly … into the light of the dark, black night.” I... https://www.scmp.com/comment/opinion/article/3170288/cathay-pacific-not-alone-covid-19-and-ukraine-war-push-aviation?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3170288/cathay-pacific-not-alone-covid-19-and-ukraine-war-push-aviation?utm_source=rss_feed Sun, 13 Mar 2022 19:00:23 +0000 Hong Kong’s flag carrier Cathay Pacific on Wednesday reported HK$5.5 billion (US$703 million) in losses last year with services hammered by strict Covid-19 travel curbs, but its cargo business helped keep operations afloat. The figure was significantly lower than the record loss of HK$21.6 billion in 2020. Cathay Pacific chairman Patrick Healy said the unprecedented disruption caused by the coronavirus pandemic had continued to severely affect business, although the situation had improved as the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3169789/cathay-pacific-hong-kong-flag-carrier-reports-loss?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3169789/cathay-pacific-hong-kong-flag-carrier-reports-loss?utm_source=rss_feed Wed, 09 Mar 2022 04:55:11 +0000 After the government’s HK$39 billion bailout of Cathay Pacific, you might expect top city officials to show the airline a little more love. But in his “humbly yours” appearance in a video to staff, Cathay chairman Patrick Healy looks like a man backed into a corner. Police have since arrested and charged two sacked Cathay Pacific flight attendants for allegedly breaching home isolation rules. The government from Chief Executive Carrie Lam Cheng Yuet-ngor on down have practically blamed the... https://www.scmp.com/comment/opinion/article/3163968/cathay-new-hostile-political-climate?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3163968/cathay-new-hostile-political-climate?utm_source=rss_feed Wed, 19 Jan 2022 13:00:22 +0000 The Hong Kong government has threatened to take further legal action against Cathay Pacific and its staff if sufficient evidence arises in its current investigation into whether the airline abused a quarantine exemption policy by allowing aircrew to return on cargo flights. The Transport and Housing Bureau said on Wednesday, in response to questions from lawmakers, that it was continuing to conduct an in-depth investigation and would “follow up seriously” even after two former Cathay flight... https://www.scmp.com/news/hong-kong/transport/article/3163943/hong-kongs-cathay-pacific-face-further-legal-action-if?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3163943/hong-kongs-cathay-pacific-face-further-legal-action-if?utm_source=rss_feed Wed, 19 Jan 2022 08:55:45 +0000 Police have arrested and laid charges against two former Cathay Pacific flight attendants for alleged violations of home isolation rules that coincided with the arrival of the Omicron variant in Hong Kong. The pair – who were believed to have been carrying the highly transmissible variant while allegedly interacting with others in public during what was meant to be a three-day self-isolation period – were released on bail on Monday, and will appear at Tuen Mun Court and Eastern Court,... https://www.scmp.com/news/hong-kong/health-environment/article/3163745/omicron-2-ex-cathay-pacific-flight-attendants?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3163745/omicron-2-ex-cathay-pacific-flight-attendants?utm_source=rss_feed Mon, 17 Jan 2022 16:59:49 +0000 Cathay Pacific is expected to take over almost all 46 routes operated by a subsidiary before it shut down two years ago, an expansion which would increase its coverage in the Asia-Pacific region, the Post has learned. The Transport and Housing Bureau said on Monday that while a decision on the routes had been made, it would not make public details of the negotiations, citing the confidential information involved. Hong Kong’s flagship carrier and its sister airline HK Express were pursuing the... https://www.scmp.com/news/hong-kong/transport/article/3163742/cathay-pacific-expects-take-over-all-46-routes-operated?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3163742/cathay-pacific-expects-take-over-all-46-routes-operated?utm_source=rss_feed Mon, 17 Jan 2022 15:59:54 +0000 Hong Kong leader Carrie Lam Cheng Yuet-ngor has said the government is investigating claims by Cathay Pacific that it did not abuse a quarantine exemption policy by allowing aircrew to return on cargo flights. In her inaugural session on Wednesday with the first “patriots-only” Legislative Council returned under Beijing’s electoral overhaul, Lam said authorities would look into a so-called loophole that allowed returning cabin crew who had flown out on commercial routes to skip hotel quarantine... https://www.scmp.com/news/hong-kong/transport/article/3163136/omicron-did-cathay-pacific-abuse-quarantine-exemption?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3163136/omicron-did-cathay-pacific-abuse-quarantine-exemption?utm_source=rss_feed Wed, 12 Jan 2022 12:30:16 +0000 Hong Kong’s leader has vowed to take legal action against Cathay Pacific if the airline is found to have exploited loopholes to bypass quarantine rules for its pilots and other staff, amid mounting calls from the pro-establishment camp to penalise the carrier. The city’s flagship airline has been under fire in recent weeks for sparking the fifth wave of the Covid-19 pandemic after at least four of its aircrew members broke home isolation rules and visited restaurants and bars while infected with... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3162962/omicron-hong-kong-leader-vows-legal-action-if?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3162962/omicron-hong-kong-leader-vows-legal-action-if?utm_source=rss_feed Tue, 11 Jan 2022 10:16:44 +0000 Hong Kong is on the verge of a fifth wave of Covid-19. However, this outbreak could have been prevented if the government quickly decided to withdraw the hotel quarantine exemption for aircrew. A media report pointed out that the government had lost at least two crucial opportunities in the last two months to keep the virus from spreading into the community. I understand why the government decided to give aircrew special treatment, especially those involved in cargo operations. Hong Kong is... https://www.scmp.com/comment/letters/article/3162515/hong-kong-government-not-cathay-pacific-responsible-citys-covid-19?utm_source=rss_feed https://www.scmp.com/comment/letters/article/3162515/hong-kong-government-not-cathay-pacific-responsible-citys-covid-19?utm_source=rss_feed Fri, 07 Jan 2022 23:30:28 +0000