Cathay Pacific CEO sees continued challenges in 2015 but also opportunities

Cathay Pacific CEO Ivan Chu, in the CXWorld Jan-2015 edition, stated (Jan-2015) 2014 was a "challenging yet rewarding one for Cathay Pacific", adding that there will "still be many challenges" in 2015. Mr Chu explained: "The world's economy remains on an unsure footing and it will be hard for the industry to make money if global GDP grows at the projected rate of just 2%. Competition is growing all the time, with Asia Pacific seeing the biggest capacity expansion. Pressure on yield will only become more intense". He however continued: "Countering those challenges is a number of opportunities. We are very well positioned in China and Asia, where economies are growing faster than elsewhere in the world, and we have the PRD market - a population twice the size of the UK - sitting right on our doorstep. We have captured a big share of the North American market and we will soon begin to strengthen our presence in Europe. All this is supported by the strategic strength we enjoy in terms of our network, fleet and award-winning products and services". [more - original PR]