Cathay Pacific Airways Ltd (0293.HK)
19 Mar 2018
Thu, Mar 15 2018
* Shares jump as much as 7.6 pct to two-and-a-half-year high (Recasts with executives' comments)
HONG KONG, March 15 Shares of Cathay Pacific Airways Ltd climbed 3.5 percent in Hong Kong on Thursday, after posting a smaller than expected annual loss for 2017.
SHANGHAI/SINGAPORE Cathay Pacific posted a smaller than expected annual loss due to a rebound in the cargo market, moderating ticket price falls and lower fuel hedging losses, prompting analysts to call that the worst was over for the Hong Kong airline.
* Annual loss HK$1.26 bln vs HK$2.15 bln loss expected by analysts
March 14 Hong Kong's Cathay Pacific Airways Ltd posted on Wednesday its biggest annual loss in nine years as fierce competition from mainland Chinese and Middle Eastern rivals exacerbated problems with overcapacity.
* Captains are not receiving year-end bonuses in cost-cutting move
SINGAPORE, Dec 22 Pilots at Cathay Pacific Airways Ltd voted in favour of raising funds as a buffer against any actions the Hong Kong airline may take against them, such as unilateral benefit changes or job losses, their union said on Friday.
SINGAPORE Loss-making Cathay Pacific Airways Ltd hired McKinsey & Co consultants earlier this year to advise on a transformation plan, drawing on turnarounds at regional rivals such as Qantas Airways Ltd and Japan Airlines Co Ltd .
SINGAPORE/HONG KONG Cathay Pacific Airways has extended payment of housing allowances to its pilots for another year, backing down from a plan to cut the stipend as the busy holiday travel period looms and amid poaching attempts by its rivals.
* Chinese airlines trying to recruit Cathay pilots (Adds analyst comment, details)