Word: cathay
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...investing in fuel futures when oil prices were escalating in 2008, eventually peaking at $147 a barrel in July, before oil prices slumped to a low of just over $30 in December 2008. But Jetstar Pacific wasn't alone in its fuel-hedging bets; other regional airlines such as Cathay Pacific and Singapore airlines also reported losses from similar transactions. Airlines use fuel futures to ensure a predictable fuel price, but they can lose big if the price of oil plummets as it did at the end of 2008. The CEO of Qantas, Alan Joyce, told reporters last week that...
With so many people cutting back on vacations, airlines are also suffering. The International Air Transport Association estimates passenger traffic will contract by 5.7% this year, leaving airlines with losses of $4.7 billion. Carriers such as Cathay Pacific and Qantas have been cutting services, which in turn hurts hotels and restaurants in places such as Sydney, Mumbai and London, to which Cathay Pacific will cut 17 round-trip flights in May alone...
Freshen Up. If you're traveling to Hong Kong in first class or as an elite frequent flier on Cathay Pacific, you can use the airline's new lounge, "The Arrival," to shower and refuel with a buffet meal before heading into the city. Located in the center passage connecting Terminal 1 and Terminal 2, the lounge is open to Cathay Pacific frequent fliers at the gold level or above and to Oneworld emerald status passengers. (See 10 things to do in Hong Kong...
More Fee Cuts. Following Qantas's lead, Air France, KLM, Cathay Pacific, Singapore Airways, Lufthansa, British Airways and Virgin Atlantic have all reduced passengers' fuel surcharges in light of the drop in oil prices. Depending on the class of ticket you purchase, British Airways is dropping $12 to $20 off flights over nine hours and $10 to $18 off shorter flights. Virgin Atlantic is lopping off the same amounts. Lufthansa will drop its fees $4 to $32 depending on the route...
...name a Singaporean film of the 1970s and '80s, it's because hardly any were made. The city-state's movie industry still hadn't recovered from the once dominant Shaw Brothers and Cathay studios' decision to relocate almost all production to Hong Kong decades earlier. Only in the mid-1990s did a new generation of filmmakers - taking advantage of new technology and lower production costs - take up cameras again. Among them was Eric Khoo, whose 1995 debut Mee Pok Man told of the tormented relationship between a noodle cook and a prostitute, and inaugurated a new wave of films...