Cathay Pacific : CX : CPA

Rolls-Royce, the global power systems company, has won an order from Cathay Pacific for Trent 700 engines to power 15 Airbus A330 aircraft. The contract includes a TotalCare® long-term service agreement.

Cathay Pacific is Rolls-Royce’s largest Trent 700 customer and today’s announcement brings the total number of Trent 700-powered A330s in service and on order to more than 60, all supported by TotalCare®.

Tony Tyler, Chief Executive, Cathay Pacific, said: “The Trent 700 has demonstrated its ability to deliver both environmental and efficiency benefits and its long term service programmes have allowed us to maximise availability of our fleet. We are pleased to select both for our latest aircraft.”
Mark King, Rolls-Royce President - Civil Aerospace, said: “This order continues our strong partnership with Cathay Pacific. The Trent 700 is the only engine specifically designed for the A330 and I am delighted that Cathay Pacific, the original launch customer for the engine and its largest operator, continues to see the advantages of our technology and TotalCare® support.”

More than 1,300 Trent 700s are now in service or on firm order. The engine has captured more than 75 per cent of orders for the A330 in the last three years. More than 90 per cent of Trent engines in service have TotalCare® support.

In January Rolls-Royce announced long term maintenance support business from Cathay Pacific to provide TotalCare® support for Trent 700 engines that power eight A330 aircraft and an enhanced engine refurbishment programme for RB211-524 engines that power existing Boeing 747-400 aircraft.

TotalCare® long-term service agreements, in place on 90 per cent of Trent engines, are designed to minimise customer financial risk and enhance operational performance and reliability, allowing operators to concentrate on their core business.

1. Cathay Pacific also operates 17 Boeing 777 aircraft powered by Trent 800 engines and has ordered 30 Airbus A350XWB aircraft powered by the Trent XWB engine.
   
2. Rolls-Royce is a world-leading provider of power systems and services for use on land, at sea and in the air, and has established a strong position in global markets - civil aerospace, defence aerospace, marine and energy.
   
3. As a result of this strategy, Rolls-Royce has a broad customer base comprising more than 500 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 2,500 marine customers, including 70 navies, and energy customers in nearly 120 countries, with an installed base of 54,000 gas turbines.
   
4. Annual underlying revenues were £10.8 billion in 2010, of which more than half came from the provision of services. The firm and announced order book stood at £59.2 billion at 31 December 2010, providing visibility of future levels of activity.
   
5. Rolls-Royce employs over 39,000 skilled people in offices, manufacturing and service facilities in over 50 countries. Over 11,000 of these employees are engineers.
   
6. In 2010, Rolls-Royce invested £923 million on research and development, two thirds of which had the objective of further improving the environmental performance of its products, in particular reducing emissions.
   
7. Rolls-Royce supports a global network of 28 University Technology Centres, which connect the company’s engineers with the forefront of scientific research.
   
8. The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.

Cathay Pacific May Order 14 More Widebody Jets After Boeing, Airbus Deals

Cathay Pacific Airways Ltd, with 91 widebody planes on order, may buy as many as 14 more similar aircraft to take advantage of China travel growth.
The possible orders are “pretty likely to be more of the same,” incoming Chief Executive Officer John Slosar said today in a Bloomberg TV interview in Hong Kong. “In a high-oil price environment, you want the most efficient aircraft.”
The Hong Kong-based carrier yesterday ordered 15 Airbus SAS A330-300s and 10 Boeing 777-300ERs, expanding a backlog that also includes A350-900s, to boost operations and replace older planes. The airline also said it almost tripled profit last year as economic growth boosts passenger and cargo traffic in [Vous devez être inscrit et connecté pour voir ce lien].
“Strong operating performance, access to China growth and protectiveness of home base are Cathay’s key competitive advantages,” Sam Lee and Hung Bin Toh, analysts at Credit Suisse Group AG, said in a note to clients. The record profit “demonstrated its efficiency and pricing power.”
The analysts raised their target price to HK$23.50 from HK$22.00 and reiterated an “outperform” rating.
The airline fell 1 percent to HK$18.76 at 9:52 a.m. in Hong Kong trading. The stock has jumped 23 percent in the past year, surpassing the benchmark [Vous devez être inscrit et connecté pour voir ce lien]’s 12 percent gain.
Cathay has no immediate plans to order Airbus’s A380, the world’s last passenger plane, Slosar said. In August, the carrier ordered 30 A350-900s and six 777-300ERs. It also yesterday announced plans to lease a further two A350-900s.

Jeannot a écrit:Cathay Pacific pourrait comander 14 gros porteurs supplémentaires

Cathay Pacific May Order 14 More Widebody Jets After Boeing, Airbus Deals

Cathay Pacific Airways Ltd, with 91 widebody planes on order, may buy as many as 14 more similar aircraft to take advantage of China travel growth.
The possible orders are “pretty likely to be more of the same,” incoming Chief Executive Officer John Slosar said today in a Bloomberg TV interview in Hong Kong. “In a high-oil price environment, you want the most efficient aircraft.”
The Hong Kong-based carrier yesterday ordered 15 Airbus SAS A330-300s and 10 [Vous devez être inscrit et connecté pour voir ce lien] 777-300ERs, expanding a backlog that also includes A350-900s, to boost operations and replace older planes. The airline also said it almost tripled profit last year as economic growth boosts passenger and cargo traffic in [Vous devez être inscrit et connecté pour voir ce lien].
“Strong operating performance, access to China growth and protectiveness of home base are Cathay’s key competitive advantages,” Sam Lee and Hung Bin Toh, analysts at Credit Suisse Group AG, said in a note to clients. The record profit “demonstrated its efficiency and pricing power.”
The analysts raised their target price to HK$23.50 from HK$22.00 and reiterated an “outperform” rating.
The airline fell 1 percent to HK$18.76 at 9:52 a.m. in Hong Kong trading. The stock has jumped 23 percent in the past year, surpassing the benchmark [Vous devez être inscrit et connecté pour voir ce lien]’s 12 percent gain.
Cathay has no immediate plans to order Airbus’s A380, the world’s last passenger plane, Slosar said. In August, the carrier ordered 30 A350-900s and six 777-300ERs. It also yesterday announced plans to lease a further two A350-900s.

Toujours pas de 380.

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Bergame a écrit:Merci, Bonjour

Tony Tyler a dit la nuit dernière que le plan de flotte était bien le retrait de 11 Airbus A 340-300 et de 21 Boeing 747-400 dans les temps correspondant aux réceptions de B-777-300ER et A 330-300

Bergame a écrit:Une équipe Boeing avait fait le déplacement chez Cathay avec une offre B 747-8I, nous avions alors eu vent du résultat : niet !

Sevrien a écrit: ..... DLH et CATHAY sont les 2 Cies., plus que toutes autres (si, si, bien plus qu'Emirates, ou BA, par exemple) qui ont le plus aidé Boeing à définir cet avion (B747-8F) . Boeing a fait un travail remarquable en conciliant deux jeux de besoins & de conceptions très éloignées l'un de l'autre initialement. .......
..... DLH a une optique stratégique & tactique bien claire. DLH est prête à laisser la version -8I en exploitation d'avion de ligne (à passagers, donc) pour une période plus courte que d'habitude, pour ensuite convertir en -8F, en harmonie avec un timing souple et une "organisation modulaire" du renouvellement de sa flotte cargo.......

...... le B747-8 a été conçu comme une variante 'F', pour Lufthansa & Cathay Pacific ! .........
Le -8I est "an after-thought", visant, dans un premier temps, à jouer le rôle de "spoiler" pour contrecarrer la carrière de la version de l'A380 qui n'existera jamais : l'A380-700 "shrink", bien trop lourd pour les 480 passagers pour lesquels il était, brièvement, envisagé !

L'A380-700 ayant été vité abandonné comme 'mauvaise idée', le B747-8 est resté potentiellment en lice en version -8I avec le seul rival possible, l'A380-800.

Bergame a écrit: Qu'en est-il aujourd'hui.... Faire baisser les prix......?

Bergame a écrit:Le belly freight est le point faible, toute proportion gardée, de l'A 380 ( comparé à sa masse globale, espace total ).

Sevrien a écrit: Déjà orphelin, ce B747-8I ! Il n'ira que vers les Cies. "aux ordres" ! Même Cathay n'en veut pas ! Peut-être que cette Cie. prendra le -8F ! Mais, en terme de très gros porteur, .. c'est l'A380-900 qui l'intéresse !

Bergame a écrit:Et le trafic cargo s'est complétement retourné en Asie depuis fin 2009

Bergame a écrit:L'écart, d'autre part, s'est resserré entre A 330-300 et B 777, y compris -300ER. En effet, A-330 là où on ne l'attendait pas

Cathay under new leadership: the dawn of a new era?

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Running an airline is no easy task. It not only applies to the European and US major carriers, but also to industry leaders such as Hong Kong-based Cathay Pacific Airways and Singapore Airlines (SIA). For Cathay Pacific and its new chief executive John Slosar, however, the airline faces a very different environment than his predecessor Tony Tyler did, who went on the become the director general (DG) and chief executive of Geneva-based industry body International Air Transport Association (IATA) at the end of first quarter.
A month since taking the helm at Asia’s second-largest carrier by revenues which made a stellar record-breaking HK$1.4 billion (US$1.8 billion) full-year 2010 profit (“[Vous devez être inscrit et connecté pour voir ce lien]“, 14th Mar 11), political revolts in the Middle East have sent oil prices skyrocketing, with Brent crude oil price reaching as high as US$127 a barrel.
Worse yet, the March 11 Japanese earthquake and tsunami led to a significant drop-off in air travel demand to and from Japan, causing Cathay Pacific to reduce the number of daily flights to and from Japan from seven flights per day to four per day and later to six per day as demand partially recovered.

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Then both the passenger traffic and cargo traffic growth that Cathay Pacific projected seem not to have materialised. Cathay Pacific has initially planned an 8 per cent growth in cargo capacity (Available Cargo and Mail Kilometres) and an 11 per cent growth in passenger capacity (Available Seat Kilometres, ASK) for 2011, but for the first three months of the year, the growth in both passenger and cargo capacities apparently outpaced the growth in passenger and cargo traffic, resulting in a persistent decline in passenger and cargo load factors.
These factors, along with an anticipated increase in labour cost owing to a 4.5 per cent and 12 per cent in flight attendants’ and pilots’ monthly salaries, respectively, contributed to a forecast of HK$9.3 billion (US$1.2 billion) full-year net profit this year, a marked deterioration of 33 per cent in net earnings over last year’s high base record-breaking HK$1.4 billion full year profit, according to a Bloomberg survey of 17 aviation analysts (“[Vous devez être inscrit et connecté pour voir ce lien]“, 18th Jan 11).
For instances, Japanese routes have been a lucrative business for Cathay Pacific, with average load factor last year reaching more than 90 per cent and generating glamourous high yields. With the air travel demand to Japan now not expected to fully recover until the fourth-quarter of this year, Aspire Aviation believes the Japanese market will continue to be a weakness in Cathay Pacific’s network for most of the time this year which may put some downward pressure on the passenger yields.
The issue of overcapacity is another major concern which may put some further downward pressure on both passenger yields and cargo yields, as passenger traffic for the first quarter of 2011, measured in revenue passenger kilometres (RPKs), rose marginally by 1.8 per cent to 23.87 billion, yet passenger capacity, measured in available seat kilometres (ASKs), rose at a substantially faster pace of 9.6 per cent to 30.385 billion, producing a passenger load factor of 78.6 per cent, down 6 percentage points over the prior year.
On the cargo side, the overcapacity is an even somewhat bigger concern, with 3 remaining 747-400 BCF (Boeing Converted Freighter) destined to be sold to Air China Cargo (ACC) leaving CX’s fleet in 2011 and 2012, yet now that the flight test of the Boeing 747-8F freighter seems to be progressing well and the first example being sent to Texas for modification in preparing the first delivery, there is a reasonable high chance that CX’s first 747-8F delivery in August this year would take place as scheduled.
Cathay has made clear that it will adjust the cargo capacity accordingly in light of the 6 747-8F freighters and the departure of a few of 747-400 BCFs, as well as a projected 2011 cargo peak. However, should these projections fail to materialise, the cargo overcapacity situation could easily worsen, thereby result in lower cargo load factors and pricing pressure.
For the first quarter of 2011, cargo traffic, measured in cargo and mail tonnage kilometres, rose by 7.4 per cent to 2.39 billion, whereas cargo capacity, measured in available cargo and mail tonnage kilometres, surged by 21.6 per cent, leading to a 9.1 percentage point drop in cargo load factors to 69 per cent.
A silver lining may lie in the same element which cause airlines pain, oil. As oil prices remain high, it is indeed true that fuel cost increases significantly. However, Cathay Pacific is more hedged when the Brent crude oil prices soar this year, thereby possibly realising mark-to-market fuel hedging gains and reduce the rate of increase in the total fuel cost. Notwithstanding this, a soaring oil price nevertheless puts a dent in consumer confidence and business sentiment (which has yet to take place but feared to do so), not only will it hurt Cathay’s bottom line, but also limit Cathay Pacific’s ability to raise fares in light of higher fuel costs.

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Looking beyond the present challenges facing Cathay Pacific, a bright future lie ahead of it and analysts are already projecting an improved full-year results in 2012, rebounding to HK$11 billion, according to a Royal Bank of Scotland (RBS) research.
Critically, Aspire Aviation believes under the leadership of John Slosar, characterised as an enthusiastic leader by insiders, Cathay Pacific will pursue a string of new ideas, particularly over ancillary revenue generation and the launch of a premium economy class.
While critics have pointed out that the premium economy class of Qantas mainly is rumoured to mainly consist of complimentary upgrades from economy class rather than extracting consumer surpluses of those travellers who are willing and able to pay for extra comfort, more amenities and better beverages, there are successful examples of implementation of premium economy class like Air New Zealand (ANZ) and British Airways (BA), etc.
Moreover, Cathay Pacific’s new chief executive John Slosar commented in a March 10 Bloomberg TV interview the carrier is now seriously evaluating the potential launch of a premium economy class now that it has become a standard offering of many carriers.
Furthermore, as Cathay Pacific presses forward with its fleet renewal programme with the Boeing 777-300ER and Airbus A350-900 XWB mid-sized long-range aircraft amid its network expansion, they provide a superb platform for maximising yields while retaining frequency and enabling Cathay to carry substantial amount of underbelly cargo which very large airplanes (VLA) such as A380s and 747-8I Intercontinentals cannot carry.
Meanwhile, Aspire Aviation has learned that Cathay Pacific will sign a contract with Chicago-based airframer Boeing to purchase 14 additional 777-300ERs in May, bringing the total of 777-300ERs on order and operated by Cathay to 60.
Last but not least, while Cathay Pacific is facing headwinds as every other airline does, it is important to keep in mind that there lies a bright future, particularly the growth from China, ahead of this carrier and that its prudent financial management would provide a sound basis for its ambitious international expansion in years to come, and that John Slosar’s taking the helm at Cathay is arguably the dawn of a new era, with many revenue-generating opportunities being currently evaluated.

Jeannot a écrit: On apprend que Cathay doit signer pour 14 nouveaux 777-300er. Boeing espérait placer ses 747-8 et pour finir cela semble être du 777. Airbus visait le 380 mais... bon. Sans doute un problème de délai de livraison.

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Pour ce qui est du B747-8,..... Cathay n'a jamais voulu la version -8I ! Jamais ! Seul la variante -8F l'a intéressé !

Cathay Boss Sees Passenger Loads Normalizing

Cathay Pacific Airways expects its passenger load factor this year to fall back to typical levels, Chief Executive John Slosar says.
Slosar, who took up the helm just five weeks ago, says the load factor in 2010 was extraordinary high as the Hong Kong carrier recovered from falling air travel after the global financial crisis.
“Last year was incredible and this year is looking like normal, which is 79-80 [percent],” he told reporters on May 3. The 2010 load factor was 84%.
Slosar sees a big opportunity in China, the world’s second largest economy. “Chinese people are now having money and they have great desire to travel and that’s going to be a huge story.”
Cathay and its partner Air China have set up a Shanghai-based cargo joint venture, which started operating this year, to tap growth in China’s Yangtze River Delta area.
“We will see more and more things coming from the rest of the world into China along with Chinese products going to the rest of the world,” Slosar says.
China contributes more than 10% of Cathay’s total revenue and this share is growing rapidly, he adds.
Cathay posted a record profit for 2010 but is facing rising competition, higher fuel prices and slower demand in earthquake-hit Japan, which accounts for 7-8% of Cathay’s revenue.
Slosar says oil prices are 50% higher than a year ago but the company has managed to pass on about half of the increase to passengers through surcharges.
High oil prices have knocked down Cathay’s shares by nearly one-tenth this year to close at HK$19.38 on May 3. It has underperformed the main board, which rose 2.6% since the beginning of 2011.
Slosar also says Cathay’s planes flying to and from Japan are now half full, with the load factor down 25-30 percentage points from normal levels. But its impact on overall load factor will be limited.
The airline is spending more than HK$1 billion ($128.8 million) on new business-class cabins to compete with rivals such as Emirates and Singapore Airlines, which can offer passengers the Airbus A380.
Slosar says Cathay’s business class segment last year had largely returned to 2007-2008 pre-crisis levels and continues to improve in 2011. Both Hong Kong’s strength as an international financial centre and China’s links with the rest of the world have brought more people to Hong Kong.
Slosar replaced Tony Tyler, who left Cathay at the end of March to become head of industry group the International Air Transport Association (IATA). Slosar has worked for Cathay parent Swire Pacific Ltd. since 1980 and was appointed chief operating officer of the airline in 2007. (Reporting by Alison Leung)