CX 2019 1H profit HK$1.3B (2018 1H: $263m loss), rev $53B (up 0.8%)
Aug 6, 2019, 10:29 pm
#1
Ambassador, Hong Kong and Macau
Original Poster
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,803
CX 2019 1H profit HK$1.3B (2018 1H: $263m loss), rev $53B (up 0.8%)
Aug 7, 2019, 12:49 am
#4
Join Date: Sep 2017
Location: Hong Kong
Programs: CX DM/OWE, Marriott Platinum
Posts: 155
Aug 7, 2019, 2:04 am
#7
Join Date: Jan 2011
Posts: 2,346
Weren't people actually promoted after this incident? And wasn't Rupert Hogg himself actually involved in the fuel hedging fiasco back when it happened?
Aug 7, 2019, 2:44 am
#8
Ambassador, Hong Kong and Macau
Original Poster
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,803
"Total fuel costs for Cathay Pacific and Cathay Dragon (before the effect of fuel hedging) decreased by HK$674 million (or 4.5%) compared with the first half of 2018, reflecting a 6.5% decrease in average into-plane fuel prices and a 2.0% increase in consumption. Fuel is the Group’s most significant cost, accounting for 28.2% of total operating costs in the first half of 2019 (compared to 30.1% in the same period in 2018). Fuel hedging losses were reduced. After taking fuel hedging into account, fuel costs decreased by HK$1,213 million (or 7.7%) compared with the first half of 2018. Fuel consumption per available tonne kilometre fell by 1.5%, reflecting the continued introduction of more fuel efficient aircraft."
Aug 7, 2019, 2:59 am
#9
Join Date: Feb 2011
Posts: 5,797
"Total fuel costs for Cathay Pacific and Cathay Dragon (before the effect of fuel hedging) decreased by HK$674 million (or 4.5%) compared with the first half of 2018, reflecting a 6.5% decrease in average into-plane fuel prices and a 2.0% increase in consumption. Fuel is the Group’s most significant cost, accounting for 28.2% of total operating costs in the first half of 2019 (compared to 30.1% in the same period in 2018). Fuel hedging losses were reduced. After taking fuel hedging into account, fuel costs decreased by HK$1,213 million (or 7.7%) compared with the first half of 2018. Fuel consumption per available tonne kilometre fell by 1.5%, reflecting the continued introduction of more fuel efficient aircraft."
Aug 12, 2019, 3:39 am
#12
Join Date: Feb 2015
Location: CRK MNL
Programs: CX Gold
Posts: 1,288
Aug 12, 2019, 8:04 am
#13
Join Date: Mar 2017
Posts: 116
There's some serious hypocrisy going on here. Anyone flying to China should boycott HX and fly CX instead (assuming the flights still run) because HX is benefiting from effectively being an SOE. Lets see if anything happens if 1 HX pilot or cabin crew is arrested... I highly doubt anything will. I personally will NOT be stepping onto any Mainland carrier or HX for the rest of the year.
Aug 13, 2019, 5:41 am
#14
Join Date: Nov 2012
Programs: SPG Platinum
Posts: 1,692
There's some serious hypocrisy going on here. Anyone flying to China should boycott HX and fly CX instead (assuming the flights still run) because HX is benefiting from effectively being an SOE. Lets see if anything happens if 1 HX pilot or cabin crew is arrested... I highly doubt anything will. I personally will NOT be stepping onto any Mainland carrier or HX for the rest of the year.