Safety First, Quality Always

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1 Safety First, Quality Always WILLIS IATA AAPA ASIA PACIFIC AVIATION INSURANCE CONFERENCE Ivan Chu Chief Executive Cathay Pacific Airways 1

2 Introduction Strategies and Challenges 2

3 A Home Carrier in Hong Kong Founded in 1946 Based in Hong Kong 147 aircraft 202 destinations 22,000 staff More than 60k pax daily 3

4 Shareholding structure 45.00% 20.13% 25.01% Public Shareholders 29.99% % 4

5 Cathay Pacific Group Associates 5

6 Dragonair (KA) Founded in 1985 A member of the CX Group since aircraft 49 destinations worldwide 22 of them in the Mainland 3,300 staff More than 25k pax daily 6

7 Air Hongkong (LD) Founded in A300 Freighters, 3 B Converted Freighters 60% owned by CX, 40% by DHL 7

8 Vogue 50 th anniversary in 2014 Airlines, hotels, clubs, shops 28,044 tons = 6,000 elephants New factory(2016) - Biggest in Asia As of Dec

9 Cathay Pacific Catering Services 100,000 meals daily 50,400m 2 = 9 football fields! 65% market share As of Dec

10 HK Airport Services Limited 23 airline clients 48% of HKIA ramp handling 20% of HKIA pax handling As of Dec

11 Asia Miles An award-winning Lifestyle Reward Programme MEMBERS AIR PARTNER NON-AIR PARTNER 7M

12 Cathay Pacific Skytrax World s Best Airline for the 4th year 12

13 Dragonair Best Regional Airline by TTG for the 5th year 13

14 OPPORTUNITIES Where we sit a lot of people! A lot of people getting wealthier A lot of people who want to travel 14

15 15 15

16 Our potential home market Proposed HK SZ Western Express Line Tuen Mun Western Bypass 20mins 20mins Hong Kong Zhuhai Macau Bridge PRD population is 8 times bigger than HK 16

17 Propensity to travel grows with income Trips per head 10 Hong Kong Singapore Malaysia Thailand South Korea Japan 0.01 China GDP per head US$ SOURCE: ACI, Global Insight, World Bank, McKinsey TTL Practice analysis and estimates 17

18 Increasing international air travellers IATA: Global Air Pax Trend bn Middle Lat East America 5% 9% Africa 4% bn Europe 20% North America 20% Asia Pacific 42% China US India Indonesia Brazil million new pax

19 CHALLENGES Uneven economy growth and recovery Competition will get tougher And more 19

20 Uneven economy growth and recovery 600.0% 2.5% 2.6% 3.0% 3.3% 3.2% Source: World Bank 500.0% 4.9% 400.0% 300.0% 200.0% 100.0% 4.4% 4.8% 5.3% 5.4% e 2015f 2016f 2017f 4.8% Column1 Series 2 0.0% Developing Countries High Income Countries e 2015f 2016f 2017f Soft oil prices, Stronger US economy Continued low global interest rates e 2015f 2016f 2017f 3.0% Global Growth Picked up only marginally during % 1.8% 2.2% 2.4% 2.2% 2.2% e 2015f 2016f 2017f US and UK gained momentum Euro Area and Japan lag behind 20

21 Index, 2005 equal to 1 Trade is slowing down International trade / world GDP growth Source: IATA BEFORE Average annual FTK growth: 6.4% AFTER Average annual FTK growth: 1.2%

22 Competition will get tougher 22

23 Bigger competition in Asia Source: IATA 23

24 24

25 Our strategy business model Premium Brand, Product & Service Full Service F / J / PEY / Y Freight Network Carriers Frequencies Destinations 25

26 Our strategy Safety Brand, Product & Service Network development 26

27 Our strategy Safety Product, Brand & Services Network development 27

28 Safety remains a big challenge 28

29 2014 the safest year by no. of fatal accidents 21 29

30 Second worst in terms of average no. of fatality per accident 47 30

31 Significant challenges faced by the industry Lithium batteries Pilot Shortage Fatigue Management Operation in airspace with less sophisticated ATC capabilities Supplier Management Risk prediction 31

32 MANAGEMENT OF CX SAFETY 32

33 Safety is our number-one priority 33

34 Our culture Safety First; Quality Always 34

35 No complacency in safety and quality Based on 2014 values One of the Top 10s Ranked the 1st 35

36 We are well positioned in the industry Sim 5 for all crew Dedicated pilot training resources Rigorous 4-month Command Course External validation as part of Governance Structure Dedicated external security risk consultant Governance Training Monitoring & Assurance External advices Others Monthly Air Safety Review Committee (ASRC) SPI s & RIS methodologies Established Flight Data Analysis Program all fleets Integrated & embedded SMS LOSA airline 4th completed 2013 Operational Supplier Management oversight initiative Established FRMS 36

37 An effective governance structure Over 40+ years of history 37

38 A well established SPI Program (Safety Performance Monitoring) Full integration into CX SMS process / Committee System Leading methodology / framework in the industry Better visibility of the composition of the safety risk Strong Stake-holder buy-in 38

39 A well established Flight Data Analysis Program Established program since mid % fleet flight data recording and scanning Effective use of flight data in routine exceedence detection, Incident investigation and operational research 39

40 SIM 5 Focuses on pilots skill set that uncovered in the current PC/RT simulator training Manual handling training Extra investment by the company (go beyond the regulatory requirement) 40

41 ON-GOING CX SAFETY INITIATIVES 41

42 LITHIUM BATTERY 42

43 We carry a lot of lithium batteries day to day 5.5 billion lithium batteries manufactured in 2013 Growing at 25-30% annually 35% produced in Guangdong Many exported via Hong Kong 43

44 Failure to declare the dangerous goods 44

45 Airport awareness campaign Defences in Cabin Passenger Cabin Risk mitigation measures Fire Container Cover EVAS equipped Cargo Overall 45

46 Flight over conflict zones External specialist advice Monthly & ad-hoc reports Current HKG Europe routings 46

47 Past safety performance does not guarantee nor predict future safety performance 47

48 Government - industry cooperation is the key 48

49 Our strategy Safety Brand, Product & Service Network development 49

50

51

52 We have also invested heavily in our products To refresh every cabin, every aircraft Invested $6B in the past 5 years 52

53 Best Airline Business Class Skytrax (2012) Airline Excellence Awards by (2014) by Business Traveller China Awards (2013) 53

54 World s Best Cabin Staff Skytrax

55 Looking forward better meeting their needs 55

56 Looking forward better meeting their needs Up Sell Non Air Ancillaries Air Ancillaries 56

57 Our strategy Safety Brand, Product & Service Network development 57

58 Superior network connecting the world India, ME 15 destinations 70 flights/week Europe 8 destinations 90 flights/week Southeast Asia 18 destinations 350 flights/week China 20 destinations 400 flights/week Northeast Asia 13 destinations 340 flights/week Hong Kong Southwest Pacific 7destinations 80 flights/week North America 7 destinations 110 flights/week 58

59 We have been growing rapidly around the globe 21 new destinations in Manchester Dusseldorf Zurich Doha Kolkata Hyderabad Yangon Zhengzhou Xi an Jeju Guilin Wenzhou Haikou Taichung Hong Kong Boston Newark Male Chiang Mai Clark Da Nang Siem Reap 59

60 Looking forward fleet modernisation In : 79 new aircraft (A330, A350, B7773ER, B777) Growth + network expansion 60

61 Our strategy Safety Brand, Product & Service Network development 61

62 THANK YOU 62

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