Cathay Pacific 293

Cathay Pacific 293

Postby winston » Fri May 09, 2008 3:48 pm

Too bad that they do not have a Put..

==============================

BROKER CALL - HK's Cathay Pacific target price cut to 13.25 hkd - Morgan Stanley

HONG KONG (XFN-ASIA) - Morgan Stanley said it has cut its target price on Cathay Pacific Airways Ltd to 13.25 hkd from 14.25 due to surging oil prices.

It maintained an 'underweight' call on the stock.

"In view of record oil prices, we have cut our EPS (earnings per share) estimates by a further 11-15 pct by raising our average jet fuel spot forecast to 120 usd per barrel from 105 usd for 2008 and 2009," it said.

It noted that the stock could be hit further with potential earnings downgrades when direct air links are launched between Taiwan and China.

"We think passenger yield peaked in 2007 and that jet fuel prices will remain high for 2008. We believe the market has yet to factor in this negative trend for Cathay Pacific," it added.

Oil prices hit 124.70 usd a barrel in Asian trade today after closing at 123.69 usd overnight.

At 3.23 pm, Cathay Pacific shares were down 0.44 hkd or 2.71 pct at 15.8.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103143
Joined: Wed May 07, 2008 9:28 am

Cathay Pacific and unit April passengers 2.07 ml 14may08

Postby kennynah » Wed May 14, 2008 4:25 pm

shipping counters stand to gain from rising jet fuel, as that eats into profit margins of air carriers..

>>think EGLE, DSX, etc

*********

14 May 2008 08:18 GMT

HONG KONG (XFN-ASIA) - Cathay Pacific Airways Ltd said it and its Dragonair unit carried a total of 2.07 mln passengers in April, up 7.2 pct year-on-year.

Combined cargo volume stood at 142,106 tons last month, up 8.5 pct year-on-year.

The group's passenger load factor was down one percentage point from a year earlier to 79.4 pct, while cargo and mail load factor was up 2.7 percentage points at 67.6 pct.

Ron Mathison, Cathay Pacific's director and general manager for cargo, said demand out of Hong Kong and mainland China remained quite robust in April and that business was also boosted by the company's recently launched freighter services to Hanoi and Dhaka.

"However, increasing jet fuel prices are inflicting serious damage on our freighter business and we stand to face increasing competition from ocean cargo in May and June, which are traditionally slack months for cargo out of Asia," he said.
Options Strategies & Discussions .(Trading Discipline : The Science of Constantly Acting on Knowledge Consistently - kennynah).Investment Strategies & Ideas

Image..................................................................<A fool gives full vent to his anger, but a wise man keeps himself under control-Proverbs 29:11>.................................................................Image
User avatar
kennynah
Lord of the Lew Lian
 
Posts: 18582
Joined: Wed May 07, 2008 2:00 am
Location: everywhere.. and nowhere..

Re: Cathay Pacific 293

Postby winston » Mon May 19, 2008 12:01 pm

No puts on Cathay Pacific..

========================

Cathay Pacific mulls route cuts on high fuel-paper

HONG KONG, May 17 (Reuters) - Cathay Pacific Airway Ltd (0293.HK: Quote, Profile, Research), Hong Kong's dominant airline, is considering cutting its money-losing routes amid soaring fuel prices, South China Morning Post said on Saturday, citing the airline's chief executive as warning in an internal newsletter.

"We will have to make sure that our fleet is flying the most suitable and economic routes for each of our aircraft types," the newspaper quoted Chief Executive Tony Tyler as saying in CX World.

"This will mean to allocate capacity to our strongest and most profitable markets, and to reduce or eliminate routes that are draining cash," Tyler said.

Cathay Pacific officials were not immediately available for comment.

The airline was studying profit dynamics of all destinations and no decision would be made until August on any route reduction, the newspaper cited the carrier's Chief Operating Officer John Slosar as saying.

Cathay had to pay about 60 percent more in average jet fuel cost per tonne in the first 4 months of 2008, against the level last year, Tyler said, adding that fuel costs account for 30 percent of the carrier's operating costs.

Shares of Cathay, haunted by concern over rising operating costs on soaring oil prices, have fallen 19 percent so far this year, underperforming an 8 percent drop in the broader Hang Seng Index .HSI.

Oil prices surged to a record high near $128 a barrel on Friday as a bullish price forecast from investment bank Goldman Sachs drowned out an offer of more supply from OPEC kingpin Saudi Arabia
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103143
Joined: Wed May 07, 2008 9:28 am

Re: Cathay Pacific 293

Postby winston » Tue Jun 10, 2008 1:58 pm

UBS cut its rating on Cathay to sell from neutral and reduced the target price to HK$15 as it expects the surging oil prices to push the airline's 2008 fuel costs to match its total revenue in 2004.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103143
Joined: Wed May 07, 2008 9:28 am

Re: Cathay Pacific 293

Postby HengHeng » Tue Jun 10, 2008 2:01 pm

don't have puts but i think if you open an account in HK you can straight write call options at the price you would want to sell it and earn the premium.

Another airline to look at is maybe virgin blue in aussie. That one also quite jia lat ... may bankrupt anytime. LOL write the calls for that one sure make money.
Beh Ki Jiu Lou , Beh lou Jiu Ki lor < Newton's law of gravity , but what don't might not come back

In the game of poker , "if you've been in the game 30mins and you don't know who the patsy is, you are the patsy
User avatar
HengHeng
Permanent Loafer
 
Posts: 794
Joined: Wed May 07, 2008 2:13 pm

Re: Cathay Pacific 293

Postby winston » Tue Jun 10, 2008 2:04 pm

HengHeng wrote:don't have puts but i think if you open an account in HK you can straight write call options at the price you would want to sell it and earn the premium..


Hmmm... not sure. Will check. I think one needs to be HK resident. That is why I cannot short as well.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103143
Joined: Wed May 07, 2008 9:28 am

Re: Cathay Pacific 293

Postby HengHeng » Tue Jun 10, 2008 2:06 pm

i think don't need .. can open under foriegner
Beh Ki Jiu Lou , Beh lou Jiu Ki lor < Newton's law of gravity , but what don't might not come back

In the game of poker , "if you've been in the game 30mins and you don't know who the patsy is, you are the patsy
User avatar
HengHeng
Permanent Loafer
 
Posts: 794
Joined: Wed May 07, 2008 2:13 pm

Re: Cathay Pacific 293

Postby winston » Tue Jun 10, 2008 2:22 pm

Hong Kong's Cathay defends ad campaign from stereotype jibes

Hong Kong carrier Cathay Pacific on Tuesday hit back at criticism that its latest advertising campaign pandered to ethnic and gender stereotypes.

Cathay said accusations that its adverts only valued its male passengers and played to cliches of Asians serving western clients were "misleading and unfair."

"Cathay Pacific is accused of ethnic and gender stereotyping in our current advertising campaign to promote our new three-class cabin designs," Carolyn Leung, Cathay's corporate communications manager, said in letter to the South China Morning Post.

"The reality is we have different versions of our print advertisements, using a representative selection of male and female passengers from a mixture of ethnic backgrounds."

The ad campaign, which was launched on May 15, came under criticism from Post columnist Michael Chugani, who said the image of Asian women pampering a western male in first class, with a Chinese man in business class and a woman in economy, was outdated.

"You've got to hand it to Cathay Pacific -- it really knows how to stereotype," he wrote in May.

The English-language paper has also received letters accusing the ads of devaluing its female passengers.

"Aside from the connotations of two young, female stewardesses pandering to a male passenger, I wonder why the ad agency and Cathay assumed the only place for women on a place is in economy class or serving male passengers," Alice Page wrote, adding she would now fly with Singapore Airlines
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103143
Joined: Wed May 07, 2008 9:28 am

Re: Cathay Pacific 293

Postby winston » Tue Jun 10, 2008 2:28 pm

BROKER CALL- Cathay Pacific target price cut on higher fuel costs- Credit Suisse

BEIJING (XFN-ASIA) - Credit Suisse said it has lowered its target price and 2008-09 earnings forecast on Cathay Pacific Airways Ltd due to the negative impact of higher jet fuel prices.

The brokerage has lowered its 2008-09 earnings forecasts on Cathay Pacific by 24-25 pct, and cut its target price to 14.80 hkd from 17.60 hkd.

It has also raised its 2008-10 jet fuel price forecast by 51-42 pct to 125-140 usd per barrel.

While Cathay Pacific has hedged its fuel costs and can use surcharges to offset the impact of rising prices, the airline will still be hit by higher oil prices.

"We think the negative earnings impact for Cathay Pacific from higher jet fuel prices could only be partially offset," Credit Suisse said in a note.

Cathay Pacific's shares were down 4.797 pct at 15.48 hkd this morning in Hong Kong.

Credit Suisse added that Cathay Pacific is less capable than rival Singapore Airlines in mitigating higher fuel prices.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103143
Joined: Wed May 07, 2008 9:28 am

Re: Cathay Pacific 293

Postby winston » Tue Jul 15, 2008 11:16 am

BROKER CALL - HK's Cathay to cut div; H1 profit seen down 80 pct - Citigroup

HONG KONG (XFN-ASIA) - Cathay Pacific Airways Ltd is expected to post an 80 pct drop in first-half net profit due to high fuel costs and a 60 mln usd US fine, Citigroup said, adding that the carrier is likely to cut the interim dividend sharply.

The Hong Kong-flag carrier is likely to cut the dividend to 10 hk cents a share -- the lowest since 2001 -- from 25 cents a year earlier, according to Citigroup.

The US house now projects an interim net profit of 509 mln hkd for Cathay, against 2,581 mln posted in the same period last year.

"We expect Cathay Pacific's first-half interim to demonstrate the severe headwinds that all airlines are currently facing," Citigroup said.

It said it had cut its earnings forecast again, incorporating year-to-date average price of 136.8 usd for jet fuel and assuming that Cathay will fully recognize a 60 mln usd fine from the US Department of Justice due to air-cargo price fixing.

At 10:42 am, Cathay shares were down 0.44 hkd or 3.09 pct at 13.78.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103143
Joined: Wed May 07, 2008 9:28 am

Next

Return to C

Who is online

Users browsing this forum: No registered users and 2 guests

cron