Cathay Pacific Airways Ltd. Chief Executive Officer Tony Tyler will leave after three years in the job having navigated the slump, extended the carrier’s reach in China and outshone Singapore Airlines Ltd. in the stock market.
Airline profits forecast to total $28 billion in the three years through 2012 may be unsustainable as over-capacity and looming regulatory costs weigh on margins, the head of the IATA industry association said.
Cathay Pacific Airways Ltd . Chief Executive Officer Tony Tyler may become the next director- general and CEO of the International Air Transport Association, the industry’s global lobbying group, the South China Morning Post said, citing an e-mail exchange with Tyler.
Cathay Pacific Airways Ltd., the Hong Kong carrier expecting a record annual profit, will increase passenger capacity 11 percent next year as the economic pickup stokes demand for premium-class travel.
U.S. airlines are poised to go on an international offensive following mergers and job cuts that have delivered leaner companies better able to compete with rivals from Asia and the Middle East, industry group IATA predicts.