The Limited Times

Now you can see non-English news...

[Hong Kong Airlines Crisis] Scholars lament that life is not at the right time and summarize the three major causes of death: Cathay Pacific or Chengdu City

2019-12-02T10:08:15.948Z


Hong Kong Airlines has successively grounded several flight points in recent months and delayed food delivery. The Air Transport Licensing Authority announced today (2nd) that if Hong Kong Airlines fails to improve its financial status as required on or before Saturday (7th), the Licensing Authority will Taking further action under Article 15E of the Regulations means that Hong Kong Airlines faces a crisis of revocation or suspension of licenses. Some scholars have analyzed the three major causes of death of Hong Kong Airlines, including the fact that passenger and cargo volumes were not as expected due to the weak global economy, the financial crisis caused by the parent company, and the continuous decline in passengers caused by the social crisis in Hong Kong. Out of time. "


Social News

Written by: Lao Minyi

2019-12-02 17:57

Last updated: 2019-12-02 17:57

Hong Kong Airlines has successively grounded several flight points in recent months and delayed food delivery. The Air Transport Licensing Authority announced today (2nd) that if Hong Kong Airlines fails to improve its financial status as required on or before Saturday (7th), the Licensing Authority will Taking further action under Article 15E of the Regulations means that Hong Kong Airlines faces a crisis of revocation or suspension of licenses.

Some scholars have analyzed the three major causes of death of Hong Kong Airlines, including the fact that passenger and cargo volumes were not as expected due to the weak global economy, the financial crisis caused by the parent company, and the continuous decline in passengers caused by the social crisis in Hong Kong. Out of time. "

Luo Xiangguo sighed, "In fact, Hong Kong Airlines has done a good job, but unfortunately it is not the right time." (Profile picture / Photo by Zhang Haowei)

No one dares to buy Hong Kong Airlines tickets even if the license is suspended

Hong Kong Airlines, which was formerly known as Zhongfu Airlines and was established in 2006, has fallen into financial difficulties in recent months and is facing a crisis of "pinning". Luo Xianguo, policy research director of the CUHK Aviation Policy Research Center, summarizes three major causes of death of Hong Kong Airlines: First, Hong Kong Airlines has developed rapidly in recent years, including the purchase of aircraft and the increase of short and long routes. Secondly, the parent company HNA was in financial difficulties and could not become a "big water pipe" to provide funds to Hong Kong Airlines in a timely manner. In addition, it was not a listed company and could not solve its financial difficulties by raising funds.

The anti-revision case that lasted for nearly half a year affected the aviation industry. Luo Xiangguo believed that the political turmoil had caused a significant drop in the number of tourists in Hong Kong, which ultimately led to the lagging of Hong Kong Airlines' business, the discontinuation of funds, and the financial instability. Withdrawing the license, consumer confidence has also greatly diminished, and "no one will dare to buy air tickets."

The Air Transport Licensing Authority stated that if Hong Kong Airlines does not improve its financial difficulties, it may hang its cards, and a decision will be made before December 7. (Profile picture)

[Hong Kong Airlines Crisis] Some employees settle for losing cards and expect new companies in the market

[Hong Kong Airlines Crisis] Not many travel insurance companies are closed down

[Hong Kong Airlines Crisis] Air Transport Licensing Authority Promotes Financial Improvement or Decides to Decide on December 7

Hong Kong market struggles to support two major airlines

Earlier, another airline Cathay Pacific completed the acquisition of LCC Hong Kong Express. Together with the licenses of Cathay Pacific and Dragonair, it almost monopolized the aviation industry in Hong Kong. Cathay Pacific also had a strong parent company Swire Group behind it. According to Luo Xiangguo's analysis, based on many years of experience, Hong Kong will not be able to support the operations of the two major airlines without huge market support. If Hong Kong Airlines finally closes, it is estimated that Cathay will do "sole city" business in the next few years.

As for whether there will be "white warriors" to save Hong Kong Airlines, Luo Xiangguo believes that the current dilemma cannot be solved by pure funds. The acquirer needs to be familiar with the aviation industry. "If there is a white warrior, I believe it has already been shot!" Tan Wenhao believes that if the process of re-applying for a license is complicated and time-consuming, Hong Kong Airlines' advantage is "licensed, staff, aircraft". It is estimated that it will be through a weak period without worrying about no buyers. "It is easier than re-licensing."

Hong Kong Airlines

Source: hk1

All news articles on 2019-12-02

You may like

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.