Cathay Pacific Airways Ltd (0293.HK)
Fri, Dec 22 2017
* 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)
* Vote outcome to be announced by Dec. 29 (Adds Cathay statement)
SINGAPORE, Nov 23 Cathay Pacific Airways Ltd's pilots will vote on whether to raise funds as a buffer against any actions the loss-making Hong Kong airline takes against them like unilateral benefit changes or job losses, according to the pilot's union.
SINGAPORE Hong Kong's Cathay Pacific Airways Ltd on Monday said it would sell eight freighters to DHL International for HK$2.199 billion ($281.89 million) and lease them back as part of a deal to gain full control of cargo airline Air Hong Kong.
SINGAPORE, Nov 13 Hong Kong's Cathay Pacific Airways Ltd on Monday said it would sell eight freighters to DHL International for HK$2.199 billion ($281.89 million) and lease them back as part of a deal to gain full control of cargo airline Air Hong Kong. Cathay owns 60 percent of Air Hong Kong, with Deutsche Post AG unit DHL International holding the remainder. However, the Hong Kong airline said in a statement its stake is expected to rise to 100 percent
* Joins concentrated register alongside Swire Pacific, Air China