Cathay Pacific - Is the writing on the wall?

7 replies

Joe

Member since 03 May 2013

Total posts 130

Should we concerned that CX is about to go under or does anyone with any inside info know better? I currently have an award seat in J next year coming home from EU with them(QF ticketed), however the flight has been withdrawn from sale. Interestingly my flight still shows as confirmed and valid. Should I be searching elsewhere for a flight? Who's responsible if I loose the flight, QF or CX?

EPC

Member since 12 Oct 2018

Total posts 4

I have a similar situation that (I think) gives further insight into CX woes , I have 2 round trips booked with CX in J , both are showing as valid bookings in the “ Manage My Booking” portal on CX’s website , however one is withdrawn from sale and the other says fully booked for new bookings ( 4 months out from 1st leg) I suspect they are stopping additional new bookings and trying to either consolidate to look for alternatives rather than cancelling now . In your situation your points are safe enough but that’s not much use if u get a Points and tax refund 3 weeks out from your trip and left with no alternatives. U have to follow up with QF. Good luck

Joe

Member since 03 May 2013

Total posts 130

Originally Posted by EPC

I have a similar situation that (I think) gives further insight into CX woes , I have 2 round trips booked with CX in J , both are showing as valid bookings in the “ Manage My Booking” portal on CX’s website , however one is withdrawn from sale and the other says fully booked for new bookings ( 4 months out from 1st leg) I suspect they are stopping additional new bookings and trying to either consolidate to look for alternatives rather than cancelling now . In your situation your points are safe enough but that’s not much use if u get a Points and tax refund 3 weeks out from your trip and left with no alternatives. U have to follow up with QF. Good luck

Tried and only got QF attitude; i.e. that the flight is still valid and they can't (won't)do anything.

Clancy

Qantas - Qantas Frequent Flyer

Member since 31 Jan 2016

Total posts 68

There is plenty of press around the impact of COVID on CX (and other airlines). Does this mean they are on the 'nose'? No real idea but suggest asking the chair of the Swire Group who are the largest shareholder of CX (45%) followed by Air China (29.99%) and Qatar Airways (9.99%). Interestingly CX also owns 18.13% of Air China...

Basically the international air business for both travel and freight is still in a lot of pain and so CX continues to reduce flights both proactively and through enforced reductions caused by a range of travel restrictions across many countries.

Will CX go broke...or rather will the owners want to keep a poor performing asset? Interesting question...but Swire is a major conglomerate with fingers in many pies.

However, on the ticketing side and with experience from Ansett, you may lose your points as your flight is actually with CX even though QF flight code, if the flight is cancelled or CX disappears...

hakkinen5

Qantas - Qantas Frequent Flyer

Member since 20 Aug 2014

Total posts 148

I've said on this site before I think Cathay is finished. Swire should shut down the airline immediately to try and force the hand of the Chinese govt to allow less restrictive quarantine conditions on their pilots and crew. I fear that the govt. though would be happy for Cathay to fail and have the Chinese Airlines pick up that market. Other airlines have lost billions and are starting to recover and make money again. But Cathay are still in the losing billions phase with no end in sight. I predict they'll be gone by mid year. If I was sitting on a stack of Cathay points I'd be pretty worried.

russh7

Member since 22 Sep 2017

Total posts 2

Swire have a lot more at stake than an airline. If HK loses its status as a business and shopping hub then their property portfolio valuation would be hit by billions of dollars. So they would be very hesitant to send any signal that would trigger such a perception unless there is no other option.

hakkinen5

Qantas - Qantas Frequent Flyer

Member since 20 Aug 2014

Total posts 148

As per todays article "Cathay Pacific suspends all Australian flights following HK ban" seems I'm right.

Tony Boyd

Member since 07 May 2015

Total posts 10

I don't think CX is about to collapse, but I think it's in sort of an Etihad mode where it will need to "shrink to survive" unless Hong Kong does a complete turnaround on its "Covid Zero" stance and decides it has to learn to live with Covid. And I don't see that happening unless China decides to do the exact same thing. And I don't see that happening at all. If Hong Kong opens up to international travel in the second half of the year then Cathay can come back for HK travel as well as transits but I think the post-Covid Cathay will simply have to be smaller, fewer flights, a smaller fleet etc. Very very sad!

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