CATHAY PACIFIC RANKED BEST MANAGED AIRLINE IN ASIA

Cathay Pacific Airways has been ranked the best managed major airline in Asia and the second best managed major airline in the world by leading airline industry magazine Aviation Week & Space Technology. Cathay Pacific was also lauded for the "exceptionally strong performance" of its management. The rankings are based on a combination of asset utilisation, productivity and financial health.

The rankings are part of Aviation Week's annual Best-Managed Companies survey and were published in its 10 July edition. The award for the best managed major airline in the world went to SAirGroup. Third place went to Air Canada, and fourth to Delta Air Lines. The second highest Asian carrier was Japan Airlines, which ranked 14th.

Cathay Pacific achieved a total score of 56.5 points just 0.3 points behind SairGroup. Cathay Pacific ranked particularly highly in terms of productivity and financial health. On both measures it surpassed all other top 20 major carriers.

Aviation Week said the highly-ranked companies should serve as a guide for aerospace companies and airlines worldwide. The magazine said: "Every one of them is continuing to push for higher levels of performance by focusing on what's best for the business. Above all they recognise that competitiveness is a moving target, with customer satisfaction the ultimate objective."

Cathay Pacific's Director and Chief Operating Officer Philip Chen said: "We are very pleased that our efforts to overhaul Cathay Pacific and enhance its long-term competitiveness have been recognised. This award is a tribute not just to management but to all staff who have contributed to improving our fortunes over the past two years."

Hong Kong's airline Cathay Pacific receives a wide range of awards from both customers and the industry. The airline was recently awarded "Best Airline-Club Lounge" in the Robb Report magazine's annual "Best of the Best" awards. Cathay Pacific was also recently voted "Best Airline Business Class" by Travel Trade Gazette Asia magazine for the third successive year.