Cathay Pacific has posted an interim profit of HK$1.4 billion for the first half of operations for 2002, an increase of 7.1% from the same half in 2001. More information at http://www.cathaypacific.com/intl/aboutus/press/0,3845,31342-81837,00.html
On a separate note, re-elected union president Nigel Demery has vowed to increase industrial action from the current work-to-rule campaign, after being returned to the leadership with just under 66% support from votes casted (the remainder going to candidates who favoured a more conciliatory approach).
Undoubtedly the $1.4 billion profit will do nothing to calm the situation between the pilots and the company. Demery has not specified what type of action the pilots will take, except that it will not be the same maximum safety strategy adopted last year. He says that he will make one last approach to the company before a meeting on October 9.
Cathay Pacific Director Corporate Development Tony Tyler repeats that the company will not negotiate under threat of industrial action and that the airline will "move heaven and earth" if the pilots disrupt operations.