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HKG:0293

19 stories mentioning HKG:0293Updated 6d ago

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Cathay Pacific Airways Raises Fuel Surcharge on Flights Starting August

Cathay Pacific Airways (HKG:0293) will increase passenger and cargo fuel surcharges starting Aug. 1 as jet fuel prices rise amid renewed Middle East tensions, according to an update on the company's website on Friday.The fuel surcharge is included on all Cathay Pacific tickets on a per-flight sector basis irrespective of fare type.The surcharge on long-haul flights originating from Hong Kong and destinations including North America and Europe will increase to HK$1,362 per sector from HK$965. For flights between Hong Kong and the South Asia subcontinent, the surcharge will rise to HK$633 from HK$448.Charges for mainland China and other routes will also increase.

CLSA Upgrades Cathay Pacific Airways to Accumulate from Hold; Price Target is HK$16.40

Cathay Pacific Airways (HKG:0293) has an average rating of overweight and mean price target of HK$15.62, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Citi Upgrades Cathay Pacific Airways to Buy from Sell

Cathay Pacific Airways (HKG:0293) has an average rating of overweight and mean price target of HK$15.66, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Cathay Pacific Expands Latin America Network via Tie-Up with Spain's Iberia

Cathay Pacific Airways (HKG:0293) is expanding its Latin America network through its partnership with Spanish airline Iberia, according to a statement on Wednesday.The Hong Kong flag carrier added new codeshare flights to Brazil's Fortaleza and Recife, Argentina's Buenos Aires and Dominican Republic's Santo Domingo via Madrid.Cathay Pacific will deploy three more flights per week on its Hong Kong-Madrid service to daily from Oct. to support the new routes.

Cathay Pacific to Resume Middle East Passenger Flights in September

Cathay Pacific Airways (HKG:0293) on Thursday said it would resume passenger flights to the Middle East starting Sept. 1.The carrier will schedule daily passenger flights to Dubai and four weekly passenger flights to Riyadh beginning in September.Cathay Pacific said it will continue to monitor the "evolving situation" in the Middle East before the resumption date.

Cathay Pacific Airways Unit Cathay Cargo Launches New Air-Land-Sea Perishables Network

Cathay Pacific Airways (HKG:0293) unit Cathay Cargo launched a fully integrated intermodal perishables network spanning air, land and sea to offer multiple routing options for cold-chain shipments across the Greater Bay Area.The new setup includes a refrigerated barge service linking Hong Kong International Airport directly to Cathay Cargo Terminal Dongguan in China, alongside an expanded air-land fresh lane across the Hong Kong-Zhuhai-Macao Bridge, according to a company statement on Tuesday.

Cathay Pacific Airways Passenger Count Climbs 17% in May; Shares Jump 3%

Cathay Pacific Airways (HKG:0293) carried about 2.7 million passengers in May, up 17% from a year earlier, according to a Tuesday Hong Kong bourse filing.Shares of the airline were up nearly 3% in Wednesday afternoon trading.Passenger capacity rose about 10% year over year to 12.7 billion available seat kilometers.Cargo carried increased 11% to 150.1 million kilograms, while cargo capacity edged up 6.1% to 1.31 billion available freight-tonne kilometers.Subsidiary HK Express carried 674,397 passengers in the month, up 4.8% from the year-ago period, while its passenger capacity grew 4% to 1.63 billion available seat kilometers.

Cathay Pacific Airways Announces Lower Fuel Surcharge on Flights

Cathay Pacific Airways (HKG:0293) lowered the fuel surcharge on its flights beginning July 1, according to an update on the company's website Tuesday.The fuel surcharge is included on all Cathay Pacific tickets on a per flight sector basis irrespective of fare type.The surcharge on long-haul flights originating from Hong Kong was reduced to HK$1,164 from HK$1,362.For flights between Hong Kong and the South Asia subcontinent, the surcharge was lowered to HK$541 from HK$633.

Update: Cathay Pacific Airways Announces Lower Fuel Surcharge on Flights

Cathay Pacific Airways (HKG:0293) lowered the fuel surcharge on its flights beginning July 1, according to an update on the company's website Tuesday.The fuel surcharge is included on all Cathay Pacific tickets on a per flight sector basis irrespective of fare type.The surcharge on long-haul flights originating from Hong Kong was reduced to HK$1,164 from HK$1,362.For flights between Hong Kong and the South Asia subcontinent, the surcharge was lowered to HK$541 from HK$633.

Cathay Pacific's Cargo Unit Expands Capacity With Additional A330 Freighter

Cathay Pacific Airways (HKG:0293) cargo unit will add an Airbus A330 converted freighter through Air Hong Kong, according to Thursday's press release.The aircraft is expected to join the fleet in the fourth quarter under a long-term lease agreement.Air Hong Kong, the first all-cargo freighter airline based in Hong Kong and a member of the Cathay Group, currently operates 14 A330 freighters.

Swire Pacific Unit to Raise HK$4.70 Billion via Debt Offering

Swire Pacific (HKG:0019, HKG:0087) said its Swire Pacific Finance unit was looking to raise HK$4.70 billion via a bond offering, according to a Tuesday filing with the Hong Kong bourse.The bonds will convert into Cathay Pacific Airways (HKG:0293) shares based on an initial exchange price of HK$13.18 each. Assuming full conversion, the bonds would convert into 356.6 million Cathay Pacific shares representing 5.9% of the business.The bonds mature on June 16, 2027, and do not bear interest.Swire Pacific said it will use the proceeds for general working capital purposes.Cathay Pacific's shares slumped nearly 7% in recent trade, while Swire Pacific's class A and B shares fell more than 1%.

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Cathay Pacific Airways' Passenger Count Rises 17% in April

Cathay Pacific Airways (HKG:0293) carried about 2.8 million passengers in April, up 17% from a year earlier, according to a Wednesday Hong Kong bourse filing.Passenger capacity rose about 15% year over year to 12.7 billion available seat kilometers.Cargo carried increased 8.2% to 144.3 million kilograms, while cargo capacity edged up 7.4% to 1.29 billion available freight-ton kilometers.Subsidiary HK Express carried 729,846 passengers in the month, up 4.9% from the year-ago period, while its passenger capacity grew 7% to 1.61 billion available seat kilometers.

Cathay Pacific Airways Chair To Retire; Successor Named

Cathay Pacific Airways (HKG:0293) Chair Patrick Healy will retire and step down from the board following the company's annual general meeting on Wednesday, according to a same-day Hong Kong bourse filing.Guy Bradley, currently a non-executive director of the airline, will be elected chair of the board.Bradley has been a director of Cathay Pacific since August 2021 and is chairman of Swire Pacific (HKG:0019, HKG:0087) and Swire Properties (HKG:1972).He joined the Swire group in 1987 and has held roles across Hong Kong, the Chinese mainland, the U.S., Japan, Vietnam, and the Middle East.

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Cathay Pacific Cuts Fuel Surcharge Amid Easing Middle East Tensions

Cathay Pacific Airways (HKG:0293) will reduce fuel surcharges on most routes from May 16 after reviewing jet fuel prices amid ongoing Middle East-related volatility, according to a Friday update on the airline's website.For Hong Kong-issued tickets on long-haul routes covering destinations such as North America, Europe, Australia, the Middle East, and Africa, the fuel surcharge will be lowered to HK$1,362 per sector from HK$1,560.Fuel surcharges on South Asia routes will decline to HK$633 from HK$725, while levies on other routes will be reduced to HK$339 from HK$389.

US Markets91d ago

Air China Returns to Profitability in Q1 Amid Energy Shocks; Hong Kong Shares Slide 3%

Air China (HKG:0753) returned to profitability in the first quarter, which could indicate resilience in the industry despite global energy shocks.Attributable net profit at China's flag carrier reached 1.71 billion yuan, compared with a loss of 2.04 billion yuan the previous year, according to a Thursday disclosure to the Hong Kong Exchange.Earnings per share stood at 0.10 yuan, versus a loss per share of 0.12 yuan.The rebound in earnings indicates a resilience in China's aviation sector, especially as it recovers from fuel shocks, Bloomberg reported separately on Thursday.The growth is also in line with expectations from Bank of America Securities.Two other major airlines, China Southern Airlines (HKG:1055, SHA:600029) and China Eastern Airlines (HKG:0670, SHA:600115) also recovered from losses in the first quarter compared with the year-ago period.Air China's turnaround could also mean alignment with other big Asian carriers such as Singapore Airlines (SGX:C6L) and Cathay Pacific (HKG:0293), the report said.However, Air China and its government-controlled peers could be "adversely positioned" due to a more price-sensitive travel cohort in China, as well as high fuel costs which they struggle to pass on to passengers, Reuters quoted HSBC (HKG:0005) as saying.The airline's revenue rose 11% year over year to 44.5 billion yuan from 40.0 billion yuan.Passenger capacity jumped 7.6% to 95.2 available seat kilometers during the quarter. The rise could be attributable to demand during the Lunar New Year, Reuters reported separately.Passenger throughput grew 10% to 42.1 million during the quarter, with domestic passenger count growing 10% to 35.8 million, international passenger count rising 12% to 4.9 million, and regional passenger count increasing 18% to 1.3 million.Cargo and mail throughput during the quarter grew 4.3% to 362,995.4 tonnes, while cargo capacity jumped 3.6% to 3.48 billion available freight tonne kilometers.Chinese international airline capacity could rise 13% year over year during the summer, equivalent to 91% of 2019 levels, Reuters said, citing Bank of America.Shares fell 3% in Hong Kong during Thursday afternoon trading.

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Market Chatter: Cathay Pacific Raises HK$2.1 Billion in Three-Year Bonds

Cathay Pacific Airways (HKG:0293) raised HK$2.08 billion through a three-year bond sale, Reuters reported Wednesday, citing a term sheet seen by the news agency.The notes carry a yield of 3.78%, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: Cathay Pacific Airways Planning HK$2 Billion Bond Raise

Cathay Pacific Airways (HKG:0293) is planning to raise HK$2 billion via a Hong Kong dollar bond offering, Reuters reported Tuesday.The airline plans to begin the bond deal on Wednesday which could include a three or five-year fixed rate, or possibly both, Reuters reported, citing the offering's term sheet.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Cathay Pacific Airways' Passenger Count Climbs 24% in March

Cathay Pacific Airways (HKG:0293) carried about 2.8 million passengers in March, up 24% from a year earlier, according to a Friday Hong Kong bourse filing.Passenger capacity rose about 9.3% year over year to 12.4 billion available seat kilometers.Cargo carried increased 11% to 165.1 million kilograms, while cargo capacity edged up 1.8% to 1.34 billion available freight-ton kilometers.Subsidiary HK Express carried 750,668 passengers in the month, up 22% from the year-ago period, while its passenger capacity grew 12% to 1.64 billion available seat kilometers.

Cathay Pacific Proposes HK$7 Billion Capital Reduction to Restore Reserves

Cathay Pacific Airways (HKG:0293) proposed a capital reduction of about HK$6.97 billion to offset a decline in distributable reserves following a recent share buyback, according to a Wednesday Hong Kong bourse filing.Shares of the airline were down nearly 1% in Thursday morning trade.The reduction will lower the company's share capital by the same amount, with the credit transferred to a capital reduction reserve account that will be treated as realized profit.

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