Tag: cathay pacific

Cathay Pacific said it will sell a 12.45% stake in Hong Kong Aircraft Engineering Company to Swire Pacific. Air China and Swire Pacific will buy a majority of Citic Pacific’s 17.49% stake in Cathay Pacific, in a deal worth $942 million. Shedding some light on the layoff versus furlough debate. The airline's profits plunge 222% to a record $1.1 billion annual loss mainly due to fuel hedges. As Thai Airways requests government support, the region’s other airlines prepare for the worst. Aviation advisory firm Seabury Group hires former Cathay Pacific CEO David Turnbull to lead its expansion in Asia. Cathay Pacific imposes a hiring freeze, while the outlook for Indian and Chinese airlines continues to darken. Air China sends a formal proposal to China Eastern Airlines calling for a strategic alliance. The vote clears the way for a counter bid from Air China. The results of our annual business travel poll of 523 readers are in. Which is the best airline, what are the best hotels, and why do you hate flying to Beijing?