Cathay Pacific 2009 Annual Report Download - page 17

Download and view the complete annual report

Please find page 17 of the 2009 Cathay Pacific annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

2009 in Review
The HAECO group’s employee headcount
decreased marginally during the year to 12,615 at
the end of 2009, reflecting the decline in business.
The group will continue to train staff and improve
productivity to remain competitive.
In recent months there has been some recovery
from the difficult market conditions which the
HAECO group encountered for most of 2009. The
group expects increased aircraft movements at
HKIA and better utilisation of our hangars in 2010
though it remains cautious about whether this
recovery will be sustained. Start up losses at the
group’s new joint ventures in Mainland China will
affect the group’s results in 2010. Overall, 2010 will
be another challenging year. The HAECO group will
endeavour to contain costs whilst continuing to
deliver quality service to customers. With the
investments made by the group in new strategic
joint ventures and core business facilities and its
excellent quality of work and service, the group is
well placed to take advantage of future long term
growth in the aviation industry.
•
•
Cathay Pacific Airways Limited Annual Report 2009 15