1. We returned to profitability both in our core airlines business and as a group as we entered the third year of our 3-year transformation programme.
2. Our 3-year transformation programme is yielding positive results. The programme continues to be on track on finding new sources of revenue, delivering more value to our customers and improving productivity and efficiency.
3. We effectively competed with more than 110 airlines operating in and out of HKIA as evidenced by our solid revenue growth and continued expansion of the airlines.
4. Our long term future looks bright.We are where the action is. Expanded connectivity to and from the burgeoning GBA directly from our hub presents us with enormous opportunities. We are lucky to be based in Hong Kong where the city’s infrastructure (including the 3RS) is gearing up to capitalize on the flourishing international travel demand to and from this wider catchment area and across Asia.
5. We are certainly in a better place today than 12 months ago, despite external factors such as rising fuel costs and the geopolitical environment which are already having a negative impact on market sentiment, affecting our passenger and cargo businesses.
6. Therefore, in order to safeguard our financial sustainability, we must continue to relentlessly focus on our proven strategy –fly to more new places, delivering more for our customers by utilising modern planes, refining our product, further enhancing our people’s unique service culture and boosting our productivity by modernising our ways of working and thinking.
7. We are where we are today because of the people of Cathay Pacific. The external environment is tough but their dedication, hard work and determination will prevail to move our airlines forward