Dragonair acknowledges challenges in sector, increased competition in Hong Kong market
Dragonair CEO Patrick Yeung, in the Dragonews Mar-Apr-2012 issue, acknowledged (Apr-2012) the challenges in the aviation sector. He stated, "amid this good news I am afraid that I do have to sound a cautionary note. As you are all aware, the aviation industry is highly volatile and we can very quickly feel the effects of situations and incidents that are beyond our control. While the economic outlook in Asia is encouraging, that in the US and Europe remains sluggish and this has a knock-on effect around the globe. We are especially beholden to rises in fuel prices, and this of course comprises a huge amount of our budget, along with inflation". [more - original PR]
Dragonair: "We are also operating in an increasingly competitive atmosphere here in Hong Kong. One downside of an economically active environment means that everyone wants a share of the pie! And Hong Kong itself is facing competition from other destinations in Asia that are trying to capture business both within and outside the region....It is vital that we make the most of Dragonair’s competitive edge. The key to facing all these challenges is the synergy that comes from KA and CX working closely and effectively together. By strengthening this connection, we can maximise the KA network, fortify the HKG hub, capture more passengers and business, and hence grow further," Patrick Yeung, CEO. Source: Company statement, Apr-2012.