Cathay Pacific ! CX ! CPA

Résultats partiels, estimation fevrier, en chute pour Cathay, fuel hegdes aussi

L'article d'Airwise (Reuters),
HK$ = environ 0,10 €

March 11, 2009

Cathay Pacific Airways, Hong Kong's dominant airline, on Wednesday posted a bigger-than-expected USD$1 billion second-half net loss, a record, and warned that the year ahead will be "extremely challenging."

"Passenger and cargo demand are expected to remain weak and, if fuel prices remain at their present
levels, further losses on fuel hedging contracts will be incurred," Chairman Christopher Pratt said in a statement.

Cathay, Asia's fifth-largest airline by market value, said unrealised mark-to-market losses on
fuel hedging was HKD$1.9 billion as of the end of February compared with HKD$7.6 billion for the whole of 2008.

But if the annual average price of Brent crude oil over each of the next three years is about USD$75 per
barrel, there will be no further net cash impact and mark-to-market losses recognised in 2008 would then be released in subsequent periods, Pratt said.

ICE Brent crude oil futures rose 0.57 percent on Wednesday to USD$44.21 a barrel.

Cathay reported a HKD$7.9 billion (USD$1.02 billion) net loss in the July-December period, based on previously reported figures. That compared with a net profit of HKD$4.4 billion in the same period a year ago.

For the full year, Cathay posted a record net loss of HKD$8.6 billion, its first shortfall in a decade, compared with a net profit of HKD$7.02 billion in 2007.

Cathay's results followed news that Singapore Airlines has asked staff to take unpaid leave for up to two
years in a bid to reduce costs, and Japan Airlines plans to cut annual procurement costs.

Cathay -- which had always been among the world's most profitable airlines and is controlled by Hong Kong conglomerate Swire Pacific -- saw its fortunes take a turn for the worse in 2008, as volatile oil prices and a gloomy economic climate weighed on earnings.

The carrier, like many of its peers, had not anticipated the substantial reduction in oil prices that started in the second half of last year and had locked in supply contracts when fuel prices were higher.

Demand growth was weak last year. Cathay said its passenger load factor fell one percentage point in 2008 to 78.8 percent, while its cargo load factor was down 0.8 point at 65.9 percent.

Revenues rose 14.9 percent to HKD$86.6 billion last year.

(Reuters)

http://news.airwise.com/story/view/1236782956.html

Les lien Wikip
http://fr.wikipedia.org/wiki/Cathay_Pacific

http://en.wikipedia.org/wiki/Cathay_Pacific

Cathay Pacific Airways picked up the 2009 Airline of the Year award at
the SKYTRAX World Airline Awards

http://www.worldairlineawards.com/

pas de compagnies européennes, ou US dans les 10 premiers... .

Et voilà, c'est au tour de Cathay !!

Cathay to delay delivery of aircraft on order.

Hong Kong’s Cathay Pacific Airways, which is cutting capacity dramatically, is in negotiations with Airbus and Boeing to delay delivery of A330, 777-300ER, 747-8 freighter and 747-400ER freighter aircraft on order.

http://www.flightglobal.com/articles/2009/04/17/325291/cathay-to-delay-delivery-of-aircraft-on-order.html

Merci, art_way ! Oui !

Lire aussi : Cathay Cuts Capacity, Staff To Take Unpaid LeaveApril 17, 2009

Cathay Pacific Airway said on Friday it would cut passenger and cargo capacity from May following a sharp drop in turnover in the first quarter of 2009.
The Hong Kong-based airline is requesting its staff to take unpaid leave over the course of the next 12 months, it said in a statement.
From May, Cathay will reduce passenger capacity by 8 percent and its Dragonair unit will cut capacity by 13 percent. Overall cargo capacity will be reduced by 11 percent.
The company said turnover derived from passenger and cargo services in the first quarter fell 22.4 percent from a year ago.

(Reuters)

Lien :
http://news.airwise.com/story/view/1239957656.html

Cathay Pacific réduit ses capacités et met le personnel en congé sans solde

http://www.lesechos.fr/info/transport/afp_00139663-cathay-pacific-reduit-ses-capacites-et-met-le-personnel-en-conge-sans-solde.htm

La compagnie aérienne hongkongaise Cathay Pacific a annoncé vendredi une baisse de 22,4% de son chiffre d'affaires au premier trimestre 2009, une réduction de ses capacités ainsi que la mise en congé sans solde de son personnel.
Cette baisse du chiffre d'affaires à la fois sur l'activité passagers et marchandises, intervient après l'annonce en mars d'une perte nette de 8,6 milliards de dollars de Hong Kong (environ 870 millions d'euros) en 2008.
En réaction, Cathay Pacific et sa filiale Dragonair vont réduire leurs capacités respectivement de 8% et 13% à compter du mois de mai, a annoncé la compagnie dans un communiqué transmis à la Bourse de Hong Kong.
La compagnie prévoit ainsi de diminuer de moitié ses fréquences sur Paris et de supprimer des vols sur Londres. Les capacités seront également réduites vers Tokyo, Sydney, Francfort, Singapour, Bangkok, Séoul, Taipei, Dubai et Bombay.
A compter de septembre, Cathay n'assurera plus qu'un vol par jour vers Paris contre deux actuellement.
Dès le mois de mai, 17 liaisons entre Londres et Hong Kong seront supprimées et davantage en juin.
Dragonair, spécialisée dans les vols vers la Chine, suspendra de son côté des vols notamment vers Dalian, Shenyang et Guilin (nord-est) ainsi que vers Fukuoka (Japon) et réduira les fréquences entre d'autres villes.
L'activité cargo va de son côté réduire ses capacités de 11%.
La compagnie a également demandé à l'ensemble de ses 17.000 salariés, dont 13.600 sont basés à Hong Kong, de "prendre des congés sans solde au cours des douze prochains mois".
"Nous demandons à notre personnel de consentir des sacrifices nécessaires pour permettre à la compagnie de traverser cette violente tempête", a déclaré le directeur général, Tony Tyler, dans le communiqué.
Les salariés les mieux payés devront prendre jusqu'à quatre semaines de congé sans solde, les plus jeunes dans la compagnie devant s'absenter une semaine.
"Le sacrifice sera partagé par tous, du haut en bas de la hiérarchie", a assuré M. Tyler.
Mais cette annonce a été critiquée par certains salariés qui estiment n'avoir pas été prévenus assez tôt. "La date limite pour donner son accord à un congé sans solde est fixée au 30 avril... Cela ne laisse pas assez de temps pour être suffisamment informé", a réagi à l'AFP Becky Kwan, présidente du Syndicat des personnels de le bord de la compagnie.
"Le syndicat admet que la compagnie rencontre des difficultés et nous sommes prêts à des efforts.
Cependant, sans les informations en main, nous ne pouvons pas dire si cette mesure est juste ou injuste", a-t-elle ajouté.
La compagnie, qui subit comme beaucoup de compagnies asiatiques le ralentissement économique, avait imputé en mars ses pertes aux prix élevés du pétrole au premier semestre 2008.
En 2007, la compagnie aérienne avait dégagé un bénéfice net de 7 milliards de dollars de Hong Kong.

Tony Tyler, CEO de Cathay n'est pas optimiste. Manque de trésorerie.

La chute du fret se stabilise ?

Sur Channel News Asia

Cathay Pacific said it has no plans for a rights issue to raise cash.

The comment came from CEO Tony Tyler during an investor conference in Singapore on Thursday.

Airlines across the globe have come under tremendous strain as the current economic downturn keeps passengers away. They also saw a drop in their cargo business and were hurt by volatile oil prices.

Cathay Pacific booked a record loss of US$1.1 billion for the last business year. But there was some good news from the airliner's CEO at the conference. He said the carrier's cargo revenues and volumes have stabilised.

In the aviation industry, the cargo market is seen as leading the passenger market.

The CEO admitted that Cathay's balance sheet may still be under strain, but he said there are no plans for a rights issue. According to him, the Hong Kong flagship has enough resources to weather the current storm, and it sees no problem financing its plane orders.

Cathay has already taken a number of measures to cope with the downturn - from cuts in capacity to asking staff to take unpaid leave, and delaying delivery of two Boeing 777-300 ER planes.

One aviation analyst was also optimistic that the skies are clearing. Damien Horth, head of Asian Transport Reseach at UBS, said: "We seem to have found a floor with very limited signs that things are getting better. I think we'll see a turnaround in cargo (volumes) pretty quickly....

"We've seen a big de-stocking in America and North Europe over the last 6 months. By the time we get to Q4, we'll have a low base and... we'll probably be seeing growth again."

This may somewhat come as a reprieve for heads of airlines across the world who are gathering next week in Kuala Lumpur for a conference on the challenges facing the sector. -
CNA /ls

http://www.channelnewsasia.com/stories/corporatenews/view/433934/1/.html

Merci, aspen !

Votre post est intéressant.

Mais pour l'essentiel, il nous confirme (ce que nous savions déjà )que la trésorerie est "le nerf de la guerre" !

Bonjour,

D' ATWonline ce jour,

4 A340-300 et 2 747-400 supplémentaires au parking en complément des 747-400BCF (5) déjà stockés.

Cathay a fait un bénéfice de 104.8 millions de dollar sur le 1er semestre 2009 grâce à ses gains sur les couvertures fuel et des réductions de coût.
Cathay ne voit pas de signe de rétablissement.

Bonne journée

Cathay Pacific Airways said it will park six passenger aircraft despite its better-than-expected half-year result announced last week. Thanks to fuel hedge gains and cost/capacity cuts, it posted an HK$812 million ($104.8 million) profit for the six months ended June 30 (ATWOnline, Aug. 6). But Chairman Christopher Pratt told media in Hong Kong yesterday that CX does not see "signs of any pickup in business," Bloomberg reported. The parked aircraft will comprise four A340-300s and two 747-400s. The airline already has grounded five 747-400BCFs and is working with Boeing and Airbus to defer deliveries of some aircraft on order.

http://www.agefi.fr/articles/Air-China-porter-17-5-30-participation-Cathay-Pacific-1103849.html

Air china s'apprete a^prendre 30% de part dans cathay

Bonjour

http://www.flightglobal.com/articles/2009/09/15/332296/cathay-august-traffic-up-3.8-premium-demand-weak.html

Cathay August traffic up 3.8%, premium demand weak
By Greg Waldron

Cathay Pacific Airways saw passenger traffic rise 3.8% year-on-year in August to 2.2 million passengers.

RPKs rose 1.9% in August, and ASKs were down 5%, says the Oneworld carrier. The passenger load factor rose 5.7 percentage points to 84.1%.

"Comparisons with 2008 are skewed due to the dampening of demand on our mainland China routes over the Olympic period last year," says Cathay Pacific GM for revenue management Tom Owen.

"Although the summer peak traffic arrived much later and at a lower yield than normal, we did see a strong recovery in pent-up regional demand for the month with an abating H1N1 impact. Traffic in the premium cabins, however, remained weak in comparison to previous years throughout August and at materially lower yields."

Cathay Pacific carried 131,732 tonnes of cargo and mail in August, down 6.3% year-on-year.

"Our cargo business showed further signs of bottoming out in August with the lowest year-on-year tonnage decline of the year to date and a continued increase in demand out of (our) key home market," says GM cargo sales & marketing Titus Diu. "However, while tonnage is undoubtedly picking up there is still a lot of competition in the market and our yield has yet to see any significant pickup from a very low base."

Cathay Pacific's operating statistics also include that of subsidiary Dragonair

Un leger mieux pour Cathay
Les ajustements de capacités ont permis avec l'augmentation du trafic une belle progression du taux d'occupation.
En revanche, le secteur premium est toujours à la peine, de même que le cargo. Le secteur cargo semble avoir touché le fond.

A voir la traduction en chiffres comptables, si la perte des premiums et d'une partie du fret soute ne pénalise pas trop l'exploitation

Bonne journée

Conférence de presse Cathay
Je vous rassure je n'étais pas invité

Mais certains y ont été :
L'occasion de les dénoncer

http://www.flightglobal.com/articles/2009/09/16/332357/cathay-selling-assets-to-raise-cash.html

Cathay selling assets to raise cash
By Leithen Francis

Cathay Pacific Airways has sold a stake in its Hong Kong maintenance, repair and overhaul (MRO) business and it has agreed to sell and leaseback six Boeing 777s to improve its balance sheet.

The Oneworld carrier says it is selling a 12.45% stake to Swire Pacific for HK$1.9 billion ($245 million) and this will reduce its shareholding in Hong Kong Aircraft Engineering (HAECO) to 15% from 27.45%. Swire Pacific's stake rises to 45.96% from 33.52%.

It also says it has agreed to sell to BOC Aviation and leaseback six 777-300ERs it has on order. The aircraft are due to be delivered from 2009'S fourth quarter to 2011's second quarter, it says.

"From a Cathay Pacific point-of-view, it will improve the airline's cash position during an extremely difficult time for the aviation industry," says Cathay Pacific CEO Tony Tyler.

Cathay will still "retain a strategic interest in HAECO" but "cash preservation has remained Cathay Pacific's top priority during this downturn."

"The sale of part of our HAECO stake will provide funds that will strengthen our balance sheet," he says.

HAECO is the main provider of overhaul and maintenance services to Cathay Pacific.

Tyler says: "There are signs the recent slump in business may be levelling out but there is unlikely to be a sharp rebound."

He says Cathay Pacific is in negotiations to delay delivery of aircraft on order but has no intention to cancel aircraft orders. According to Flightglobal's ACAS database Cathay Pacific has 19 777-300ERs on order, 10 Boeing 747-8Fs and eight Airbus A330-300s.

BOC Aviation says this is the first time the leasing company has worked with Cathay Pacific.

"This completes the first phase of our purchase and leaseback programme under our counter-cyclical strategy," says BOC Aviation managing director and CEO Robert Martin, referring to its plan to buy aircraft from airlines during the downturn.

Bank of China owns 100% of BOC Aviation.

En résumé

1) Pour limiter les sorties de Cash :
6 777-300ER non encore livrés sont repris par BOC Aviation (détenu à 100% par Bank of China), avec accord de Lease Back.
A noter : cela fait partie d'une stratégie globale de BOC aviation

2) Vente à Swire Pacific d'une partie des parts de Cathay dans Hong Kong Aircraft Engineering (HAECO) qui est le prestataire principal MRO de Cathay. La part de Cathay dans HAECO descent à 15% celle de Swire monte à 46%

Le site de Swire

http://www.swirepacific.com/eng/global/home.htm

Bonne journée

Et puisqu'on y est
Le détail des résultats de Cathay pour Août



https://i.servimg.com/u/f81/13/61/41/93/cathay10.jpg

Bonjour à tous

Quelques résultats de Cathay pour septembre :

Cathay Pacific Airways CEO Tony Tyler is "not getting too excited" about the carrier's September traffic figures despite positive trends in both the passenger and cargo sectors. Speaking with ATWOnline, Tyler did say that the airline, while remaining cautious, "expects an upswing in the last quarter of the year." CX and subsidiary Dragonair reported a 0.1% September traffic increase to 6.87 billion RPKs on a 9.7% capacity cut to 8.57 billion ASKs, driving load factor up 7.9 points to 80.2%. The two airlines carried a total of 133,301 tonnes of cargo and mail in September, down 5.8% year-over-year, considerably better than the 12.3% decline for the first nine months of 2009.

GM-Revenue Management Tom Owen said, "September saw a welcome seasonal upturn in demand for premium traffic with an improved share of the overall business, but at volumes and yields still well below previous years. . . Reduced capacity, especially on some long-haul routes, provided the context for the higher load factors and improved efficiency." GM-Cargo Sales & Marketing Titus Diu added, "The trend of plummeting [airfreight] yields that began in fourth quarter 2008 and continued through the second quarter of 2009 has stopped as volumes have strengthened. We have experienced a gradual improvement in both volume and yield, albeit from a low base. However, it is still too soon to say whether these improvements are the beginning of a sustained recovery."

http://www.atwonline.com/news/other.html?issueDate=10%2F14%2F2009

Petite augmentation du traffic à volume d'offre pourtant très significativement réduit.
Petite reprise sur le segment à haute contribution
Stabilisation du fret

Bonne journée

Rebonjour,

Un lien institutionnel ici

http://downloads.cathaypacific.com/cx/traffic/200909_cxtraffic_en.pdf



https://i.servimg.com/u/f81/13/61/41/93/cathay11.jpg

Bonne journée

je voudrais savoir pour cathay n'a pas commander l'A380 ? (juste une question )

Cathay n'a pas encore commandé d'A380 mais elle etudie la possibilité de l'introduire dans sa flotte.

Bonsoir Pascal974 et Pascal83


De mémoire Cathay est plutôt intéressée par la version _900

En attente donc

Bonne soirée

Cathay s'apprête à passer une commande d'avion ....mais toujours pas intéréssé par l'A380

Cathay poised to place order for widebodies


Cathay Pacific Airways will shatter Airbus's A380 sales aspirations as it prepares for a widebody buying spree, with deals for long-range twinjets but no near-term plans to order the superjumbo.

The Hong Kong airline, which is a major Boeing 747 operator, has long been a target for Airbus's A380 salesmen. However, according to industry sources a request for proposals issued by Cathay in November centred on Airbus A330/A350s and Boeing 777/787s.

The airline is expected to finalise these orders this year, with one source suggesting that a decision will be made in June, ahead of the northern summer holidays.

Cathay chief executive Tony Tyler declines to comment on the RFP, citing commercial and confidentiality reasons, but confirms the airline "is evaluating new-generation Airbus A350 and Boeing 787 aircraft".

Cathay Pacific already operates 17 Boeing 777-300ERs

The Oneworld carrier needs new widebodies to cater for market growth and allow it to phase out older aircraft, say the sources. The carrier has also said publicly it wants to retire its ageing 777-200s although Tyler says the phase-out will not begin this year.

Cathay operates 20 747-400s, some of which are more than 20 years old, and Airbus and Boeing have been trying hard to secure deals to replace them with A380s or 747-8Is.

The airline was involved in the A380 programme from the start, taking part in early A3XX customer focus group meetings 15 years ago. Airbus remains bullish about the role that Cathay's main base will play in the ultra-large aircraft sector, forecasting that Hong Kong will be the largest hub for such aircraft over the next 20 years.

The airline is already a customer for the cargo version of the 747-8, with 10 on order, but industry sources say Cathay has no near-term interest in ordering ultra-large passenger widebodies. One option could be to streamline its fleet by adding more 777-300ERs to replace the 747-400s.

Cathay already has a large A330-300 and 777-300ER fleet, with Flightglobal's ACAS database showing 32 and 17 aircraft, respectively. Orders for eight A330-300s and 13 777-300ERs (plus six options) are held. Deliveries of the A330s will start at year-end and conclude in 2013, says Cathay, when the last of the firm -300ER orders are also due.


http://www.flightglobal.com/articles/2010/06/01/342501/cathay-poised-to-place-order-for-widebodies.html

mon avis perso (fait plusieurs voyage en asie avec cx ) ...ils vont commander plus de 77W et A350-900


peut-être quelque 787-9 pourrais les intéréssé ....bien que l'A350 800 pourrais faire l'affaire mais il parait que l'oiseau limité en capacité fret ??? (très important pour cx )

cathay a une LOI pour 30 A350 900 + négocie 6 six 77W en supp avec boeing

On 4th August 2010, Cathay Pacific entered into a letter of intent (the “LOI”) with
Airbus Company in relation to the acquisition of 30 Airbus A350-900 aircraft from
Airbus Company. The Company also intends, subject to the satisfactory outcome of
negotiations with Boeing Company, to exercise existing purchase rights in respect of
six Boeing 777-300ER aircraft.

http://www.hkexnews.hk/listedco/listconews/sehk/20100804/LTN20100804258.pdf

Bojour !

Tony Tyler, parle avec ATW, à Perth ...
En gros pas de décisions rapides à attendre, et dommage que le 350-1000 ne fasse pas HK-NYork ... on s'en serait douté, mais j'attendrais un peu quand même pour l'affirmer , et le 748 I ??
Bon, on n'en sait pas beaucoup plus après lecture, si ce n'est qu'il attend la nouvelle propal Boeing, sur le B777 NEO, et comme Boeing attend la décision sur le A320 NEO de Airbus, pour avancer sur le 777 !

-------------- Allez, l'article de ATW --------------

http://atwonline.com/aircraft-engines-components/news/ceo-says-cathay-mulls-a380-or-747-8-orders-1022?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+AtwDailyNews+%28ATW+Daily+News%29

CEO says Cathay mulls A380 or 747-8 orders


By Geoffrey Thomas | October 25, 201
Cathay Pacific Airways CEO Tony Tyler told ATW in Perth that the carrier is still keeping the door open on possible A380 or 747-8 orders, while urging Boeing to improve its "fantastic" 777. "The 777-300ER is a fantastic aircraft but it’s going to need to improve to compete with the A350-1000," he said. "Sure, the A350-1000 is not a Hong Kong–New York aircraft but it certainly is a Hong Kong–Europe aircraft. And so if they are going to sell more 777s to us they will have to improve it." Tyler also said Boeing needs to make the 777 more efficient with more seat rows and reduced weight. "But I know they don’t intend to abandon that part of the market. They have a firm grip on it and intend to defend it." On the A380 and 747-8, Tyler said there will come a time when "Cathay will need a bigger aircraft" for capacity-restrained airports such as Heathrow. But it has to fly from "West Coast US to Hong Kong, nonstop all-weather, with a full payload," challenged Tyler, who said these are "bread and butter" routes for CX. Tyler noted CX would not be ordering a token number of super jumbos. "You have to order a sensible number to get the best deals and get the right economy of scale," he said, without putting a timetable on any potential order but hinted it would be a few years yet. The carrier has ordered 10 747-8Fs and will begin taking delivery in 2011.

---------------------
Pour mémoire : Cathay n'a pas cru, pour l'instant au 350-1000, pas assez avancé pour que les perfs soient garanties, juste à mon avis !
http://atwonline.com/airports-routes/news/cathay-pacific-posts-881-million-first-half-profit-orders-30-a350-900s-0804

JPRS

Bonjour !

Pour Tony Tyler (Qui laisse son poste dans 3 mois, pour diriger l'IATA)

Wide body toujours et only ...
Mais pour le A380, on attendra les nouveaux moteurs et le 380-900 !
HouHou le Trent XWB ?? ou le Genx ?? à moins que EA avance d'un bon pas ...
En tout cas pour Tyler les nouveaux moteurs ne font pas de doute ... un jour !

Un passage intéressant sur le "Intelligent misuse" des avions WB Long-Haul,vers le régional et le mainland !

Un interwiew Bloomberg à lire !

------------- De Bloomberg, un court extrait ---------------

http://www.bloomberg.com/news/2011-01-05/cathay-pacific-adds-asia-seats-on-intelligent-misuse-of-long-haul-planes.html?cmpid=yhoo

The airline has so far rejected ordering Airbus’s double- decker A380 to instead build its fleet around 777s. The carrier opted for these smaller aircraft as they let it offer greater frequencies on long-haul routes, Tyler said.

The airline may eventually look at adding A380s, especially if Toulouse, France-based Airbus can make the plane more efficient through the addition of new engines or the introduction of a stretched version, Tyler said.

“We would like to see it improve as an aircraft,” he said. Still, “I’m sure Cathay Pacific will one day have another really good look at it.”

JPRS

Le widedody n'est pas incompatible avec le court courrier... d'autant que le court courrier en Asie est probablement un peu moins "court" qu'en Europe... La région est quand même très étendue.

Sont concernés à par cet usage décalé les A330-300... dont on sait qu'ils sont vraiment pas mauvais dans ce rôle... et les 777-200 et -300 non ER qui ne doivent pas être si mal non plus.

L'avantage des "widebodies" en court courrier c'est qu'ils permettent de mettre à dispo de belles cabines Biz... ce qui n'est pas le cas avec les mono couloirs...

Garder en tête que les tristars et DC10-10 étaient donnés pour 250 places en 2 classes à l'époque sur 6000 à 7000 km

Garder en tête aussi qu'un widebody en court courrier peut embarquer un sacré paquet de tonnes de fret en soute !

Oui c'est une bonne idée et ça permet de belles économies.
Surtout en Asie il y a tel trafic sur les grandes lignes que toutes les compagnies vont devoir y penser.
Les capacités aéroportuaires ne sont pas extensibles à l'infini.

Bonjour !

Cathay reçoit à Toulouse son 33eme A333 et dévoile sa nouvelle classe "Affaires"
Les A359 prendront le relais pour 2016 chez Cathay ! C'est bien, si c'est tenu !

http://www.touleco.fr/Cathay-Pacific-devoile-sa-nouvelle-3981.html

JPRS