Word: cathay
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...overseas investment in order to tap the expertise of foreign financiers, in recent years the CAAC has been allowing foreign airlines to take small stakes in domestic carriers, hoping that outside partners could improve airline management. Air China, for example, has a cross-shareholding agreement with Hong Kong-based Cathay Pacific, and in 2005 American financier George Soros invested $25 million in Hainan Airlines, the country's fourth largest airline by revenue. But by freezing out Singapore Airlines, CAAC officials signaled that they have decided to close ranks around their domestic carriers - potentially shutting off the fast-growing China market...
Asia's major airlines will soon start feeling the pinch. Airline analysts and executives expect budget carriers to drag down fares throughout Asia. Both Singapore Airlines and Hong Kong's Cathay Pacific, Asia's premier airlines, deny they are cutting prices in response to this new threat. But they have been offering what they call routine special promotions. In May Cathay Pacific sold round trips between Hong Kong and Singapore for $128even less than the $160 fare offered by Singapore-based low-cost carrier Valuair, which started flying that same month. Major airlines "have been advertising prices even lower than...
...Cathay has tried to turn its global training headquarters near Hong Kong International Airport into a temple of team spirit. Employees can wander into classes for yoga and belly-dancing and get a drink at Dhakota's, the company bar. "It's like a big playground," says Steve Lawrence, one of Cathay's training and development managers. The rooftop patio hosts just about every hokey team-building exercise ever invented. Trainees regularly participate in 100-person lap sits, in which each person sits on the next one's knees, forming a circle while trying mightily to stay balanced. There...
...Cathay's team-building isn't just for the rank and file. At a recent event in Bangkok, top managers, including former CEO Philip Chen, were sent into local Thai grocery stores with 500 baht and the task of planning and cooking new economy- and business-class meals...
...next team challenge? Cathay acquired the Chinese domestic airline Dragonair last year, but integrating its new partner could be tricky. "Chinese carriers do not have a good reputation for customer service," says Richard Aboulafia, an airline analyst with the Teal Group in Fairfax, Va. Tyler says he wants "to make sure Dragonair staff feel they belong--to make sure nobody was having lunch alone." Perhaps it's time to bring back Morning Boogie...