Cathay Pacific: It's Time To Buckle Up

Cathay Pacific Airways Ltd. has seen better weather. Skyrocketing costs are forcing the Hong Kong carrier to slash expenses. New competition threatens the cozy arrangements that Cathay has long enjoyed on many of its key routes. Delays in building Hong Kong's new airport are hurting expansion plans. And with China set to take over Hong Kong in less than two years, Cathay's position as the territory's unofficial flagship carrier is in jeopardy.

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