Cathay Pacific's recovery hits rough patch on oil, trade war
It’s turning out to be a bumpy road to recovery for Cathay Pacific Airways. Just when the premium airline was showing signs of a rebound, crude oil played spoilsport again, denting early gains from a transformation plan that CE Rupert Hogg considers crucial to survival. More uncertainty lies ahead for the as a global trade war escalates. The airline is likely to report a net income of HK$140m (US$18m) for the first half of 2018, according to the median estimate of 5 analysts. While that is better than the $2.05b loss a year earlier, it is smaller than the $792m profit in the second half of 2017. The numbers are due around noon Wednesday. Hogg, who became CE in May last year, is seeking to turn Cathay’s fortunes around in the face of intense competition from budget carriers and mainland Chinese rivals. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-08-08/oneworld/cathay-pacifics-recovery-hits-rough-patch-on-oil-trade-war
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Cathay Pacific's recovery hits rough patch on oil, trade war
It’s turning out to be a bumpy road to recovery for Cathay Pacific Airways. Just when the premium airline was showing signs of a rebound, crude oil played spoilsport again, denting early gains from a transformation plan that CE Rupert Hogg considers crucial to survival. More uncertainty lies ahead for the as a global trade war escalates. The airline is likely to report a net income of HK$140m (US$18m) for the first half of 2018, according to the median estimate of 5 analysts. While that is better than the $2.05b loss a year earlier, it is smaller than the $792m profit in the second half of 2017. The numbers are due around noon Wednesday. Hogg, who became CE in May last year, is seeking to turn Cathay’s fortunes around in the face of intense competition from budget carriers and mainland Chinese rivals. <br/>
