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Cathay Pacific Airways Limited Essay

3528 words - 15 pages

IntroductionCathay Pacific Airways Limited (Cathay)------was found as a British-registered airline(the Union Jack was on the tail) which started her first flight in 1945 with the Douglas DC-3, now has been called "The Airline of Hong Kong", owns over a hundred of Aircrafts and one of its boasts is that "every flight is an international flight" depending on the 400 square miles space of Hong Kong, Also it gives Cathay the extraordinary geographic advantages at this location: "As the center of Hong Kong, use five hours and a half flight time to draw a circle, North, it can reach the mainland China, Korea and the north of Japan; South, it can get to the Singapore, Indonesia and the northwest of ...view middle of the document...

Strikes:Labor unrest it was a strike that seemed to catch Hong Kong by surprise. Hong Kong had had no real Western-style strike in decades, and both the non-confrontational Asian ethos and the absence of strike-focused laws or procedures in laissez-faire Hong Kong added to the trouble. The issues were not unfamiliar in labor relations: assignment of duties not in line with employees past duties and efforts at cost containment. And the strike was over before the end of the month. But the unpleasant echoes remain. Allegations of sexism and racism amid images of Filipina stewardesses as spokespeople for the Flight Attendants' Union; the unpreparedness and seeming heavy-handedness by management counterpoised with scuffles, disruptions, and general disarray; and the firing of strikers then and later.ExternalThe Gulf WarThe Gulf War and the Recession affected Cathay's 1991 performance. Like all airlines, Cathay was faced with a situation in which people did not want to fly frequently while the war was on. Not only was the Middle East itself regarded as unsafe, but the threat of air hijacking anywhere in the world a concern as well. In response to this, Cathay, like its competitors re-routed planes to maximize efficiency. As part of the issue, the price of aviation fuel also went up substantially.Revert of Hong KongHong Kong will revert to China on July 1, 1997. The reversion issue has, in addition to posing questions about what a "Hong Kong" airline really will mean, led to a steady emigration annually of 50.000 or so of Hong Kong's best and brightest. Of 700 key Cathay managers, up to 10 per cent emigrate each year. So with 1997 come those issues as yet impossible to sort out. What will be the effective positioning for this "Airline of Hong Kong" when there is really no longer any such practical entity as Hong Kong since it will become a Special Administrative Region of China? What will be the relationship between Cathay and China's own airline, CAAC, now divided into five regional airlines? how will the freewheeling nature of Cathay-adding this, seeking that, experimenting with the other-fare in the face of the unpredictable Chinese need for control, particularly in an industry such as airlines, which is in every way visible to all, and one of the symbols of a modern nation? And what will be the consequences of China entities (including CITIC) already owning 24 per cent of Cathay? How "Chinese" will Cathay become, and how Chinese will it want to become? Many scenarios exist with regard to the 1997 transition.Challengers from Overseas:In 1993 earnings are down for Cathay (46 per cent in the first half). Recession in key markets overseas (Japan and the West) lingers. The challenge came from Britain's Virgin Atlantic Airlines, and its charismatic head, Richard Bronson. Virgin inaugurated London-Hong Kong and Hong Kong-London service on February 21, 1994. Its point of differentiation was to be computerized gambling on the plane en route via individual...

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