Cathay Pacific Portfolio Essay Example | Topics and Well Written Essays - 2000 words

Cathay Pacific Portfolio - Essay Example During a research carried out by global Skytrax Research poll carried in population of 4.4 million travelers, it lead to an award to Cathy Pacific for being considered the best airline (Exter & Tamara, 2012). In the following year, it was also awarded with another award for being the best airline Europe and best airline Transpacific for two consecutive years. Cathy Pacific Airlines of UK was founded in 1946 by Roy Farewell a businessperson as well as a pilot and Sydney de Kantzow an adventurous pilot operating Calcutta, Burma and Chungking (Lasok, 1998). Earlier, during the Second World War, the duo was flying to shanghai with a DC-3. Later, the British colonial government demanded that they officially register their company in order to operate Hong Kong. It was on the 24th of September that the two entrepreneurs registered their company by the name Cathy Pacific Airways Corporation. It was though the registration of Cathy Pacific that Roy Farrell import and export Company was formed . The purpose of forming Roy Farrell Import-Export Company was to undertake tax issues; they would also lease aircrafts from the Cathy Pacific Airlines. By the end of one year after its formation, Roy Farrell had possessed a second DC-3 and had ferried over 3000 passengers and an estimated cargo of 15000 kilograms from Australia and Asia. Cathy Pacific’s growth was rapid because in 1947, the airline had acquired an additional five DC-3 and another two smaller aircrafts (Catalina Fling boat), this enabled them to extend their operations to Macao towards the southern China. In 1948, Cathy Pacific had acquired a 45% market share in the airline industry. In 1962 to 1967, the airline’s growth was rapid; this made them enjoy its spectacular growth. The huge profits that they realized brought in the first international services in Osaka, Nagoya and Fukuoka in Japan. In late 1970s, the airline had expanded its services to other parts of Europe and North America. In mid 1980, t he airline was moving to London, Frankfurt, Amsterdam, Brisbane, san Francisco, Vancouver, Zurich, and Manchester. In 1990s, Cathy Pacific assembled the youngest fleets in the world. For the last five years, Cathy pacific has improved drastically in terms of carriage per annum. In 2008, it carried 13, 066, 011 passengers and 4046 tons of cargo. In 2009, it carried 37, 683, 812 passengers and 32, 128 tons of cargo. In 2010, it increased to 122, 544, 546 passengers and 111, 234 tons of cargo. This is a clear indication that Cathy Pacific is growing rapidly (Malcolm et al., 2013). This is because it was established long time ago thus making them to secure a larger market share. In addition, its long service has demonstrated its capabilities to carry even more passengers and cargo as time goes by. The future of Cathy Pacific seems exciting. The airline’s expectations are that they should have bought 100 aircraft by the year 2020. They will also introduce a third runway in Hong Ko ng, which is an international airport. Cathy Pacific substantial investment is to build their cargo terminal at the airport. They also plan to nurture catering, ground handling companies, aircraft maintenance and corporate headquarters at UK. Vision The vision of Cathy Pacific airlines is â€Å"To be the leading airline in the world†. this means that they should strive to excel in all they do. Objectives The main objectives of Cathy Pacific as set by the company management include: To ensure that customers are well served and satisfied To