Friday, August 12, 2005
Cathay first half profits up to $210M
Hong Kong carrier Cathay Pacific Airways made a profit of HK$1.67 billion (US$210 million) during the first six months of the year, a 5.7 percent decrease compared to its HK$1.77 billion profit in the same period last year.
Fuel costs represented 27.9 percent of the airline’s total net operating cost in the first half of this year, up from 21.8 percent in the same period last year, as the average price of fuel into plane increased from US$46 to US$65 per barrel, a statement sent to Sun.Star Cebu yesterday said.
In its interim report for the first six months of this year, it also announced a turnover of HK$23.88 billion, an increase of HK$4.23 billion from its HK$19.66 billion turnover during the same period last year, as the airline carried 7.3 million passengers and 517,920 tons of cargo, up from 6.4 million passengers and 469,909 tons of cargo carried in the first half of last year.
“Like almost all other products and services, prices are increasing.
It’s a fact that everyone has to deal with. But what matters most to our passengers is the value that they get from what they paid for.
Convenience, safety, and connectivity are very important in the airline industry,” said Suzanne Wong, the new manager for Cathay Pacific in Cebu.
Cathay Pacific flies once daily or seven times a week from Cebu to Hong Kong, the connecting hub to other destinations like Europe and the US, Connie Cimafranca, Cathay Pacific’s passenger sales supervisor for Southern Philippines, said in a separate interview.
“We have not made any announcement regarding additional flights between Cebu and Hong Kong yet,” she added.
Wong replaced Anna Cheung, who moved to Shanghai to assume the position of manager for its office in the Eastern Region.
Introduced in a press briefing last Monday at the Waterfront Cebu City Hotel and Casino, Wong expressed optimism for its operations in Cebu, with its commitment of helping boost the local tourism industry while it plays its role of connecting the gap between cultures and distance by giving quality service, like efficient flight connectivity and convenience.
A Hong Kong Chinese national, Wong joined Cathay Pacific Airways in 1999 and went through three posts, from assistant to the general manager in different sales regions, before assuming the position of assistant marketing manager. (ALC)
(August 12, 2005 issue)
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