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A worldwide economic boom spearheaded by Asia created more business travelers, tourists and cargo, which in turn increased the demand of air travel throughout the 1980s. Hong Kong, which is also widely known as the “Pearl of the Orient”, was the best choice location for most kind of business trading activities, due to its strategic location. Additionally,it is served by an efficient seaport and also serves as a convenient transition point for long haul travel. Starting out as a small regional freight operator established in 1946, Cathay Pacific Airways has grown tremendously to transform into one of the world’s leading international air cargo carriers. Cathay Pacific’s cargo business currently accounts for around 21% of its annual revenues. While passenger services has reaped promising financial returns, Cathay Pacific’s cargo division constantly played an increasingly vital role in the company's growth and expansion. Today, Cathay Pacific has transformed into the world's largest international cargo airline, along with main hub Hong Kong International Airport as the world's busiest 3
CATHAY PACIFIC CARGOairport in terms of cargo traffic. All of Cathay Pacific’s cargo operations are grouped under itsCathay Pacific Cargo unit (Cathay Pacific, 2016). Managerial AspectsCorporate Culture and PhilosophyCathay Pacific prides itself as an inclusive company with a collaborative culture and placed great focus on people development. (“Developing a winning team - Cathay pacific sustainable development report 2011,” n.d.) The company also believes that its business is selling experience to the passengers.They recognise that the emotional bonding with the passengers is the key to building loyalty and one of the major factors that encourage the customers to employ the various services offered by Cathay Pacific. The biggest difference ofCathay Pacific to its competitors is the exceptional service provides by its employees. The employees at Cathay Pacific play an important role in bridging the gap between product development and customer expectation. They strive to make the customers of Cathay Pacific always feel welcomed, appreciated and reassured. Passengers that choose to employ the services that Cathay Pacific offers all know that they are in good hands. “Service Straight from the Heart” is a programme that aims to develop cultural change within the airline focused on improving customer service (Cathay Pacific, 2016). Service is a crucial factor in differentiating airlines and even more important when influencing customer choice. Cathay Pacific understands the importance of the people within the organization and also recognises the contribution of those people to its success. Key individuals involved4
CATHAY PACIFIC CARGOThe key individuals involved in the company during its long history included the following people (Cathay Pacific, 2016) John Slosar: Chairman of Cathay Pacific since March 2014; Chairman of John Swire & Sons (H.K.) Limited, Swire Pacific Limited, Swire Properties Limited and Hong Kong Aircraft Engineering Company Limited.