Qantas finds tonic in Cathay's poison as Chinese tour Australia

The flood of cheap Chinese airfares that’s undoing Cathay Pacific Airways is proving a boon for Qantas Airways. Cathay posted its first loss in 8 years last month, overwhelmed by pricing competition from mainland rivals including China Eastern Airlines and China Southern Airlines. For Qantas, it’s doing the opposite -- bringing a record number of Chinese visitors to Australia and generating new business for the carrier, which ferries them on its local network. “The growth opportunity is the Chinese market,’’ Qantas CE Alan Joyce said Tuesday. “We see the Chinese visitors exploring the entire domestic network.” The cut-price Chinese fares that are threatening marquee Asia-Pacific carriers such as Cathay and SIA are supercharging one of Australia’s fastest corporate turnarounds. <br/>