Cathay sees “no end in sight” to current challenges; business recovery “seems like a distant dream"

Cathay Pacific CEO, Tony Tyler, described the current economic environment as the "most destructive economic downturn in recent memory". [2372 words]

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This report contains the following subheadings:

• Concerned that current improvements just a seasonal variation; “may need a fundamental change”
• Business model in focus
• Boosts cash levels by trimming HAECO stake/B777 sale-leaseback
• CEO lets fly at suppliers
• But some demand improvements
• Air China no immediate plans to increase Cathay Stake above 30%; to form cargo JV
• Network news
• Outlook: Big challenges ahead

This report contains the following charts and tables:

• Quotes by Tony Tyler as part of Asian Aerospace Congress Speech
• Quotes by Tony Tyler as part of Asian Aerospace Congress Speech
• Quotes by Tony Tyler as part of Asian Aerospace Congress Speech
• Cathay Pacific route network (from Hong Kong base): Sep-2009