Cathay Pacific : CX : CPA

Résultats de trafic combinés Cathay et Dragonnair pour juin 09. Rien de fantastique.

Sur Air Transport News :

Cathay Pacific Airways today released combined Cathay Pacific and Dragonair traffic figures for June 2009 that show a sharp fall in passenger numbers compared to the same month last year, in part due to the impact of the Influenza A (H1N1) outbreak. There was also another marked year-on-year drop in the amount of cargo and mail carried.

In June, Cathay Pacific and Dragonair carried a total of 1,738,413 passengers – a drop of 18.1% against the
same month in 2008 - while the load factor fell by 4.5 percentage points to 76.8%. Capacity for the month, measured in available seat kilometres (ASKs), was down 9.1%. For the year to date, the number of passengers carried has
fallen 4.2% while capacity has declined by 2.1%.

The two airlines between them carried a total of 123,860 tonnes of cargo and mail last month, down 10.0%
on June 2008, while the cargo and mail load factor rose by 3.8 percentage points to 71.3%. Capacity for the month, measured in available cargo/mail tonne kilometres, was down on last year by 14.3%. For the year to date, tonnage has fallen by 15.4% compared to a capacity drop of 14.1%

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Cathay Pacific General Manager Revenue Management Tom Owen said: “We usually see a pickup in demand in June as summer approaches, but this year demand was depressed by the ongoing global economic recession and the reluctance of passengers to fly as a result of the widely reported H1N1 outbreak. The H1N1 situation had a particularly
severe impact in our largest market, Hong Kong, and within the region, especially on Japanese routes. Premium cabin demand showed no signs of life but was at least stable. Aggressive competition for Economy Class passengers in all markets continued to provide very few opportunities for sustainable yield improvement."

Cathay Pacific General Manager Cargo Sales & Marketing Titus Diu said: “June cargo traffic was still down year on year, though the monthly drop was the lowest so far in 2009 and the tonnage decline was behind the cut in cargo capacity. There are signs that the airfreight market has bottomed out, though as yet we are not seeing any sustained upswing in demand. Competition in the various cargo markets we serve remain fierce and as such yield remains
under considerable pressure.”

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Deux captures de Wikipedia sur la flotte de Cathay :

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Pas trop la joie pour CPA mais il se veut optimiste. " Le plus mauvais est passé"....?
Quelques explications sur l'impact des cours du pétrole et ses fuel hedges; voir le baril rester stable à USD 75 jusqu'en 2011 ! :|

Sur Airwise :

Hong Kong's top carrier Cathay Pacific Airways reported a bottoming out in weekly revenues, triggering a brief jump in its share price but signalled it faces a tough environment in the months ahead.

"There are signs that our own weekly revenue results seem to have bottomed out now, but at a very low level. As yet, there are still no signs of any sustained recovery," chief executive Tony Tyler said in a note to staff.

He said the airline's latest revenue figures showed it was not yet clear of the difficulties it suffered in the first half, with passenger revenue 13 percent behind target and cargo revenue 22.5 percent below the desired mark for the first seven months to July.

Cathay Pacific is scheduled to release its interim results on Wednesday.

Analysts said the carrier is likely to turn around in the first half from losses posted last year, on the back of a one-off fuel hedging gain but like many other carriers continues to face strong headwinds in the months ahead.

Singapore Airlines, the world's second largest airline by market value, last week unveiled its first quarterly loss in six years, and warned that it could post an annual loss if adverse conditions continued.

"Operationally, (Cathay) is still facing a difficult environment in the second half, but the gains from hedging will help the results to turn around," said Cho Fook Tat, an aviation analyst at Taifook Securities.

If oil prices stay at USD$75 a barrel over the next three years to 2011, the company could make mark-to-market gains and write back some of the paper losses from fuel hedging provisions.

Crude oil has dropped 50 percent to its current level of about USD$72 from a peak of USD$145 hit in July of last year.

Brokerage Citi had downgraded the stock to 'sell' before a copy of Tyler's remarks was obtained, but Daiwa was optimistic.

"We are optimistic about a gradual recovery, and believe this would overwhelm any negative impact that weak results would have," Daiwa Securities said in a research note last week.

MORE PRESSURE AHEAD

As of July 25, Cathay's weekly passenger revenue was 15.8 percent behind target for the year to date, while cargo revenue was 21.4 percent below target, Tyler said in a weekly business report.

"We are certainly still in a very challenging operating environment," chief executive Tony Tyler said in the report. "Our latest revenue figures highlight the fact that we are still some way from climbing out of our deep hole."

Advance premium bookings were no longer comparable with last year, he said, noting that "corporates were not pre-booking travel as they did before."

Tyler did not provide specific figures for passenger and cargo traffic levels.

However, Cathay last month reported that its combined traffic with unit Dragonair in terms of passenger numbers for June 2009 fell sharply year-on-year, in part due to the impact of the Influenza A (H1N1) outbreak.

Tyler said that advance bookings for economy and business class were "not that bad" but added that the overall situation remains grim.

For September to November, Cathay's front-end bookings were still heavily down, he said, adding that the company would only know in early September whether business travel would show any signs of a turnaround.

(Reuters)

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Merci, tous pour ces posts !
Articles intéressants et de qualité !

Dans la même foulée j'ai trouvé sur Airliner ces mots de Tony Tyler mais malheureusement sans lien (ni de date). Voir ce qu'il dit sur le 380 et le 350.

Tyler says the airline is happy with its current mix, but notes that rising fuel prices could see it phase out its Boeing 747s earlier than planned.

It will continue to develop its 777s, but is already telling Boeing and engine manufacturer General Electric that they need to "ginger" the aircraft up a but if they want to keep it competitive.

"We already have 30 on firm order and I can see us eventually probably getting more, particularly if the economics improve," he says.

The airline also has no plans at this stage to take on the Airbus A380 superjumbo, even though some people see it as an ideal plane for the Hong Kong to London route.

Tyler says Cathay has done a lot of analysis and it believes there are better ways of moving around passengers than the current version of the superjumbo.

"I've no doubt the A380 is going to be a very successful aircraft and a very strong competitor with good economics," he says. "We believe there are aircraft with better economics for our particular network."

He is also not ruling out the 747 Intercontinental, but says at present Cathay does not want a bigger plane, saying the airline's passengers want frequency.

Tyler is, however, extremely interested in the new A350, "if it does what it says on the box".

"The 787 (is) a very good aircraft, a bit small for us, perhaps not quite the range we want," he says. "The (787) -10, if it really happens, might be a stronger competitor. But then you're starting to get into 350 country."

He also warns that the biggest member of the 350 family, the 1000, may be a 777 killer if it does what Airbus claims, and Boeing and GE fail to respond to the challenge.

"It could be," he says. "I'm not saying it will be. It could."

Cathay has freighters on the way, including the 747-8, but Tyler notes wryly that in the current environment these are hardly needed, with six of its current freighters out of service.

"So we are talking to Boeing about delaying and we're talking to Airbus also about delaying some A330s," he says. "Again, great aircraft. We will need them, but we don't really need them quite as early as we contracted to take them." "

CPA annonce des résultats positifs sur 1H09 ( premier semestre de cette année ).

Il est écrit dans l'article de Flight que la Cie "discute" étroitement avec ses fournisseurs pour différer quelques livraisons d'avions. Mentionnés les A 330 et B 777. ( 748F aussi dans le restant à livrer, mais...? Non, pas celui-ci ! :roll:

En tout cas pas question de commander de 748I......semble-t-il

On voit dans le tableau plus haut que 4 A 340-300 seront retirés du service régulier en 2011.
On voit aussi que les 3 A340-600 loués à ILFC ont disparus, pour moi il en restait encore 1 dont l'age apprchait les 7 ans. Alors contrat de leasing sur 7 ans avec ILFC ? Simple curiosité, car je voudrais savoir ce qu'ils sont devenus !

Dans les résultats annoncés sur Flight, on apprend que les passagers " haute contribution", par leur absence, plombent les comptes. On peut dire que c'est partout la même chose sauf pour certaines LCC.

Les fuel hedges ( couvertures financières sur variation carburants ) ont eu, cette fois un impact positif.

L'inclusion des résultats de Dragonair est comptablement logique, mais le modèle d'affaire de Dragonair n'est pas celui de Cathay. ( mais les fuel hedges comptent pour les deux )

Pour info :1 HK$ = 0,129 US$
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Cathay Pacific Airways posted a HK$812 million net profit for the fiscal first half due to paper profits from its fuel hedging.

Net profit came in at HK$812 million ($105 million) for the six months ending 30 June compared to a net loss of HK$760 million for the corresponding period last year, the Oneworld carrier says to the Hong Kong stock exchange.

Revenue fell 27% year-on-year to HK$30.9 billion from HK$42.4 billion but the carrier posted a profit because "there were gains in fuel hedging contracts in the first six months of 2009 with unrealised mark to market gains of HK$2.1
billion," it says.

In the first six months of last year it posted losses of HK$7.6 billion on fuel hedges but said at the time that if there was any increase in fuel prices from the lows of 2008 it would result in Cathay posting a profit on fuel hedging.

Cathay says today that fuel "prices moved up rapidly in the second quarter" of this year.

Cathay's operating statistics show passengers carried fell 4.2% in the first half year-on-year to 11.9 million from 12.5 million.

The passenger load factor was down 1.5 percentage points to 78.5% from 80% and cargo carried fell 15% to 701,000t from 828,000t.

"Economy class demand remained fairly robust" due to discounts on air fares and "premium class passengers was significantly reduced" as companies cut back on travel, it says.

In May, Cathay reduced passenger capacity by 8% and cargo capacity by 13% and its subsidiary Dragonair reduced capacity by 13%. Cathay has cut no passenger destinations but Dragonair has cut six, it says.

The airliner has [Vous devez être inscrit et connecté pour voir ce lien]-8Fs, [Vous devez être inscrit et connecté pour voir ce lien]-300s and [Vous devez être inscrit et connecté pour voir ce lien]-300ERs on order according to Flight's ACAS database but the airline says it is "continuing to work with aircraft manufacturers with a view to deferring some of the deliveries."

Passenger traffic from southeast Asia was generally stable and Middle East traffic was robust.

But passenger demand from Europe was adversely affected by the weakening of European currencies, he says.

Demand from North America remains strong for economy passengers but demand for premium is greatly reduced, it adds.

Cathay also says its passenger traffic to Taiwan has been adversely affected by the opening of non-stop flights between Taiwan and mainland China and that passenger traffic from Korea and Japan is weak due to the depreciation of Korean won and concerns over swine flu respectively.

Cathay's financial results include those of its subsidiary Dragonair.

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Oups Jeannot, nous avons édité en même temps.

Merci pour le post pris sur Airliner : le 787-10 serait un bon concurrent de l'A 350 ? Il faudrait d'abord que le premier 787 vole et soit certifié, ce que je souhaite.

A 350-100XWB " killer" de 777 ! Déjà lu cela ( sous la plume de Sevrien )

Bonjour, chers tous, et merci, Jeannot et Epsilon, pour ces posts !

Aujourd'hui, le B787-10 n'est qu'un avion papier, et, dans la mesure où il serait (selon les dernières "idées") une émanation du B787-9, qui sera trop lourd, de toutes les façons, il aura peu de chances de réussir !

Je posterai des réflexions déjà bien menées à ce sujet !

Aujourd'hui, et pendant les 10 à 15 années à venir, Airbus et son A350-XWB n'ont strictement rien à craindre de cet "avion papier" !

Dans l'état actuel des choses, il est plus probable que, ...
-- il ne voie jamais le jour, ....
-- qu'il vole un jour !

Résultats juillet 09 Cathay et Dragonair. Coef d'occupation ( load factor ) toujours en baisse malgré les réajustements de capacité, mais CPA ne peut ajuster que l'existant, comme tout le monde.
L'activité fret toujours en berne, comme ailleurs.

Sur Airtransport news :

Cathay Pacific Airways today released combined Cathay Pacific and Dragonair traffic figures for July 2009 that show another significant fall in passenger numbers compared with the same month last year. There was also another year-on-year drop in cargo and mail tonnage.


In July, Cathay Pacific and Dragonair carried a total of 2,080,326 passengers – down 9.9% against the same month in 2008 - while capacity for the month, measured in available seat kilometres (ASKs), fell by 7.5%. The month’s load factor saw a drop of 0.6 percentage points to 83.5%. For the year to date, the number of passengers carried has fallen by 5.1% compared to a capacity decline of 2.9%.

The two airlines carried a total of 133,233 tonnes of cargo and mail last month, down 6.7% on July 2008, while the cargo and mail load factor rose by 6.6 percentage points to 72.6% as a result of the capacity decline. Capacity for the month, measured in available cargo/mail tonne kilometres, was 12.6% down. For the year to date, tonnage has fallen by 14.1% compared to a capacity drop of 13.9%.

Cathay Pacific General Manager Revenue Management Tom Owen said: “The adverse impact of Influenza A (H1N1) on regional demand continued in July, although there was a pickup in leisure travel towards the end of the month as concerns eased in some markets. Load factors remained flat over last year, despite significantly reduced capacity, highlighting the continued impact of the global economic downturn on demand. Bookings in the premium cabins remained especially weak which, combined with ongoing aggressive economy class competition and adverse
currency movements, continued to stymie any material yield recovery."

Cathay Pacific General Manager Cargo Sales & Marketing Titus Diu said: “Our tonnage decline has seen successive reductions since the beginning of the year, and July’s drop of 6.7% was the smallest year-on-year monthly drop
so far in 2009. The indications now are that the massive slide in the air cargo market has bottomed out and we were encouraged to see an increase in demand out of our home market, Hong Kong. However, intense competition is still putting yield under considerable pressure.”

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Ca bouge dans l'actionnariat de Cathay. Le chinois Air China reprend des parts à CITIC à qui il restera 3%.
CITIC fut une des premières créations bancaires de Deng Xia Ping.

Sur ATWonline :

Air China reached an agreement with CITIC Pacific to purchase a significant portion of the latter's stake in Cathay Pacific, raising its share in the Hong Kong carrier to 29.99% from 17.49%.

According to a filing released yesterday by the Hong Kong Stock Exchange CA will purchase 491.9 million of CITIC's shares in CX at HK$12.88 ($1.66) per share, or a total of approximately HK$6.34 billion. Swire Pacific, which controlled 39.97% of CX, agreed to purchase another 78.7 million shares from CITIC at the same price, boosting its holding to 41.97% and maintaining its position as the airline's largest stakeholder.

In the filing, CA said the deal "will be useful in terms of boosting the international competitive strengths and brand value of Air China." Both carriers expect to form a closer relationship that will serve as a platform for further
cooperation and greater synergies as a result.

))) Industry analysts have pointed out that CA regards Hong Kong as a good alternative after its unsuccessful attempt to acquire a greater foothold in Shanghai by purchasing a stake in China Eastern Airlines in late 2007/early 2008 [Vous devez être inscrit et connecté pour voir ce lien]. CEA now is merging with Shanghai Airlines in order to seize control of more than 50% of that market.

"The deal won't change our cooperative plan with Air China," CX COO John Slosar told reporters in Hong Kong.
The carriers are negotiating a cargo joint venture to be based in Shanghai.

Swire Chairman Christopher Pratt ruled out the possibility that CA eventually will replace Swire as CX's largest shareholder. "Swire always persists in being the biggest stakeholder of CX, which has lasted for more than sixty years," he said in a statement released yesterday. After completion both transactions, CITIC Pacific's stake in CX will decrease to 2.98%.

by Katie Cantle

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Tony Tyler,le CEO de Cathay, fustige certains fournisseurs : rechanges trop chères en ces temps de crise.
En pleins salons !

Sur Etravelblackboard :

The head of Cathay Pacific has slammed airline suppliers for overcharging in difficult times for items such as seats, engines, interiors and other aircraft components.

Speaking at the Asian Aerospace International Expo and Congress event this week, Tony Tyler, Cathay Pacific CEO blasted the suppliers present for the costs they charge for aircraft components.

“We are all in this crisis together but you wouldn’t believe that from the way many of the suppliers to the airlines conduct business with us,” he told the crowd.

“Big things, small things, seats, engines, parts of all kinds - how can they be so expensive?”

With a motto of The Right Place. The Right People. The Right Value the conference is held in conjunction with
major suppliers Aircraft Interior Expo (AIX), Asia Pacific Aviation Training (APATS), Air Freight Asia (AFA) and Asian Business Aviation (ABA).

And Mr Tyler used the opportunity presented to ask suppliers how they could justify charging airlines for premium seats that costs more than a “top quality” sports car.

Escalation causes in most contracts have seen many suppliers lift their prices despite the current economic downturn.

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Autre Source !

Lien :
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DATE:13/09/09. SOURCE:Flight Daily News
Routes 09: Cathay chief Tyler slams suppliers for high charges
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Si Tony TYLER était moins 'diplomatique', il dirait qu'il vise, notamment, GE, depuis que Cathay Pacific a commencé à acquérir les B777-300ER, avec les moteurs GE90-115B, montés en exclusivité sur cet "airframe" ! [Vous devez être inscrit et connecté pour voir cette image]

Il vient de comprendre le poids, pour le client, de la tactique GE : "Lock in the Customer, ... lock out the competition" !

Trop tard, Tony !

Reprise résultats aout 09 Cathay & Dragonair.

Bon mois d'aout, sauf le fret, mais la courbe de la chute s'aplatit. Et baisse simultanée des tonnages offerts et transportés

Sur Airtransportnews :

Cathay Pacific Airways today released combined Cathay Pacific and Dragonair traffic figures for August 2009 that show an increase in passenger numbers compared with the same month last year, though cargo and mail tonnage showed another year-on-year drop.

Cathay Pacific and Dragonair carried a total of 2,210,068 passengers in August – up 3.8% against the same month in 2008 - while capacity for the month, measured in available seat kilometres (ASKs), was down by 5.0%.
The month’s load factor was up 5.7 percentage points to 84.1%. For the year to date, the number of passengers carried is down by 4.0% compared to a capacity decline of 3.2%.

The two airlines carried a total of 131,732 tonnes of cargo and mail last month, down 6.3% on August 2008, while the cargo and mail load factor rose by 6.1 percentage points to 72.0%. Capacity for the month, measured in available cargo/mail tonne kilometres, was 14.1% down.
For the year to date, tonnage has fallen by 13.1% against a capacity drop of 13.9%.

Cathay Pacific General Manager Revenue Management Tom Owen said: “Comparisons with 2008 are skewed due to the dampening of demand on our Mainland China routes over the Olympic period last year. 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 General Manager Cargo Sales & Marketing Titus Diu said: “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 key home market. 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.”

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Opération de Ventes et Lease Back sur 6 777-300ER a recevoir prochainement.

HONG KONG (Dow Jones)--Cathay Pacific Airways Ltd. (0293.HK) said Wednesday it has signed a sale and leaseback agreement with a unit of Bank of China Ltd. (3988.HK) on six Boeing aircraft on order, as part of the airline's plans to preserve cash amid the industry downturn.
The Hong Kong-based carrier said it signed the agreement with BOC Aviation on six of the 19 Boeing 777-300 extended range jetliners the airline has on order. The six aircraft are scheduled for delivery between the fourth quarter of this year and the second quarter of 2011.
Cathay Pacific Chief Executive Tony Tyler reiterated that the airline has no intention to cancel aircraft orders, but said it continues to be in talks with manufacturers to defer deliveries. The airline said it has 39 aircraft on order for delivery before 2013.

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CPA va vendre une partie de ses actifs dans le MRO Haeco

Cathay sells stake in HAECO to boost cash position

HONG KONG, Sept 14, 2009 (AFP)

Cathay Pacific said Wednesday it had agreed to sell a stake worth 1.9 billion Hong Kong dollars (244 million US) in its engineering affiliate to Swire Pacific to preserve cash in the downturn.

2009 AFP

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Haeco est le premier atelier MRO de la région, en millions d'heures de travail ( annual labor man hours ) , devant SIA Engineering, Ameco Pekin, ANZ Engineeriong, Qantas et JAL

Cathay Pacific semble avoir besoin de cash

Exact Jeannot

Et Cathay va aussi faire du sale & lease back sur 6 B777-300ER avec BOC Aviation des 19 exemplaires encore à recevoir. Discussions toujours en cour avec Boeing sur des reports....


HONG KONG (Dow Jones)--

Cathay Pacific Airways Ltd. (0293.HK) said Wednesday it has signed a sale and leaseback agreement with a unit of Bank of China Ltd. (3988.HK) on six Boeing aircraft on order, as part of the airline's plans to preserve cash amid
the industry downturn.

The Hong Kong-based carrier said it signed the agreement with BOC Aviation on six of the 19 Boeing 777-300
extended range jetliners the airline has on order. The six aircraft are scheduled for delivery between the fourth quarter of this year and the second quarter of 2011.

Cathay Pacific Chief Executive Tony Tyler reiterated that the airline has no intention to cancel aircraft orders, but said it continues to be in talks with manufacturers to defer deliveries. The airline said it has 39 aircraft on order for delivery before 2013.

-By Jeffrey Ng, Dow Jones Newswires; 852-2802-7002; [Vous devez être inscrit et connecté pour voir ce lien]

Cathay, tiens donc, fait entretenir les Airbus single aisle de Dragonair à Guangzhou. En ramp

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Petite image d'un 777-300ER de Cathay Pacific peint aux couleurs de One world.

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La flotte de Cathay telle que sur Planespotters

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