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Company Watch - Cathay Pacific Airways.

Aug 13, 2007

Connecticut-based SkyWorks Capital has teamed with Cathay Pacific Airways parent Swire Pacific and Air China to create SkyWorks Capital Asia Ltd. The new Hong-Kong based joint venture, ownership of which is evenly divided between SkyWorks, Swire and Air China Development Corp. (Hong Kong), will give the aerospace and aviation advisory firm a presence in the booming Asia/Pacific market to complement its major role in the US. Aug 10, 2007

Cathay Pacific announced an increase in its Japanese service. It will operate a sixth daily Hong Kong-Tokyo Narita flight from Oct. 28 and applied to codeshare on new Dragonair services to Fukuoka (daily) and Sendai (thrice-weekly), also from Oct. 28. Dragonair will cease operating its daily Tokyo Narita flight. Aug 8, 2007

Cathay Pacific Airways posted a 55 percent rise in first-half earnings on Wednesday, on strong passenger demand and synergies from a buyout of rival Dragonair. Cathay said on Wednesday it would focus on taking advantage of its newly acquired Dragonair, and its extensive network across mainland China, and partner Air China. Hong Kong's largest air carrier posted a net profit of HKD$2.58 billion (USD$330.8 million) for the January-June period, versus HKD$1.67 billion a year ago. Aug 8, 2007

Cathay Orders Five More Boeing 777s Boeing said on Tuesday that Cathay Pacific Airways has ordered five additional 777-300ER extended-range jets, increasing the Hong Kong-based carrier's commitment to 23 planes. Aug 8, 2007

Cathay Pacific Airways has announced that it has placed an order for five more advanced wide-body Boeing 777-300ER "Extended Range" aircraft, increasing its commitment to a total of 23 of the aircraft type.The five additional Boeing 777-300ERs will be purchased directly from the Boeing Company. In December 2005 Cathay Pacific made a commitment to acquire 16 Boeing 777-300ERs - the airline's biggest-ever order for new aircraft. Aug 7, 2007

Cathay Pacific Airways exercised options on five GE90-115B-powered Boeing 777-300ERs, increasing its commitment to the model to 23 aircraft. The conversion is part of CX's December 2005 order for 16 (with 12 directly purchased from Boeing and four leased from ILFC) plus 20 options. Last year it exercised rights for two more aircraft. Its first -300ER will be delivered next month and it will have five by year end. They will be introduced on the Hong Kong-New York JFK route from Nov. 1. Aug 8, 2007

Dragonair became a wholly owned subsidiary of Cathay on September 28. 2006. Cathay Pacific holds a 17.32 percent stake in Air China. The latter said last month that first-half net profit would jump at least 20 times, from just CNY45 million yuan (USD$6 million), under domestic accounting standards. Aug 8, 2007

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Publication:Airguide Online
Date:Aug 13, 2007
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