CHIEF commercial officer of Hong Kong's flagship carrier Cathay Pacific Airways has for the first time voiced concerns about the impact an increasingly
likely trade war between the US and China would have on its profitable
Paul Loo Kar-pui said the loss-making
airline was taking the threat seriously and monitoring the long-term
effects of the trade situation "very closely," reported SCMP.
"We don't see any immediate impact. God knows, the whole thing is
developing every day, we really don't want to see trade disrupted. A
trade war is not to anyone's benefit," Mr Loo said in Toulouse, France,
ahead of the airline receiving its first Airbus A350-1000 and flying the
aircraft back to Hong Kong.
Cathay Pacific has recorded two years of annual losses amid rising
competition. It has relied on its profitable cargo unit to help offset
the losses from its passenger business. However, it recorded an overall
profit in the second half of last year, suggesting that the worst of the
company's troubles are over.
The shift in Cathay Pacific's view of the looming trade war can be seen
in the changing nature of the comments made by Mr Loo over the past
At the March announcement of the company's financial earnings for 2017,
Mr Loo said the airline did not see the rhetoric from Mr Trump's
anti-trade agenda having a potential impact on its cargo business.
Two weeks ago, Mr Loo was asked about the same issue in Dublin ahead of
the airline commencing a new flight to the Irish capital, and the
carrier said it was not worried.