Cathay Pacific definition

Cathay Pacific or the “Guarantor”).
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Cathay Pacific or “Company” Cathay Pacific Airways Limited, a company incorporated in Hong Kong and whose shares are listed on the Stock Exchange, the principal activity of which is the operation of scheduled airline services.
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Cathay Pacific or the “Company”) has been named as a defendant in civil complaints in a number of jurisdictions in respect of air cargo operations. One of these jurisdictions is the United States. Cathay Pacific has entered into a settlement agreement (the “Settlement Agreement”) in respect of the United States civil cargo antitrust class action in which it is a defendant. Under the Settlement Agreement, which is subject to approval by the United States District Court for the Eastern District of New York, Cathay Pacific has agreed to make a payment of US$65 million to settle this litigation. Cathay Pacific does not acknowledge any wrongdoing or liability in the Settlement Agreement and there is no admission of any wrongdoing or liability in the Settlement Agreement. An amount sufficient to cover the settlement was provided in the accounts of the Company before 2013. Accordingly, the settlement is not expected to have a material effect on the results of the Company to be reported in the future. Cathay Pacific has been named as a defendant in civil complaints in a number of jurisdictions in respect of air cargo operations. One of these jurisdictions is the United States. In 2008, Cathay Pacific entered into a plea agreement with the United States Department of Justice under which the Company agreed to plead guilty to a one-count violation of the United States Xxxxxxx Act relating to its air cargo business and paid a fine of US$60 million. This brought to an end the United States criminal antitrust proceedings against the Company in respect of its cargo operations. Along with other airlines, the Company is a defendant in a United States civil antitrust class action in respect of its cargo operations. Cathay Pacific has entered into the Settlement Agreement in respect of this civil action. Under the Settlement Agreement (which is subject to approval by the United States District Court for the Xxxxxxx Xxxxxxxx xx Xxx Xxxx), Xxxxxx Pacific has agreed to make a payment of US$65 million to settle the class action. Cathay Pacific does not acknowledge any wrongdoing or liability in the Settlement Agreement and there is no admission of any wrongdoing or liability in the Settlement Agreement. An amount sufficient to cover the settlement was provided in the accounts of the Company before 2013. Accordingly, the settlement is not expected to have a material effect on the results of the Company to be reported in the future. Putative class members may opt out of the settlement. If they d...
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Examples of Cathay Pacific in a sentence

  • Cathay Pacific and Dragonair compete or are likely to compete either directly or indirectly with some aspects of the business of the Company as they operate airline services to certain destinations, which are also served by the Company.

  • He is brother to Xxxxxx Xxxxx, a Non-Executive Director of Cathay Pacific.

  • Menzies has over 500 customers including Air Canada, Air China, Air France-KLM, American Airlines, Cathay Pacific, easyJet, Frontier Airlines, IAG, Qantas Group, Qatar Airways, Southwest, United Airlines, WestJet and Wizz Air.

  • The Notes will be guaranteed by Cathay Pacific Airways Limited (the “Guarantor”).

  • This Note is one of a Series (as defined below) of Notes issued by Cathay Pacific MTN Financing (HK) Limited (“CPMFHK”) (the “Issuer”) pursuant to the Agency Agreement (as defined below).

  • Cathay Pacific Services Limited (“CPSL”) • CPSL, a wholly-owned subsidiary, operates the Cathay Pacific Group’s cargo terminal at Hong Kong International Airport.

  • Cathay Pacific is committed to maintaining a high standard of corporate governance.

  • This is currently the rule in several countries, and many airlines, with respect to airfares (Regulation (EC) 261/2004; Cathay Pacific 2020; US Department of Transportation 2020).

  • Upon the completion of the issuance of A shares and subject to the approval after verification by competent examination and approval departments authorized by the State Council, the Company has issued 1,179,151,364 H Shares to Cathay Pacific Airways Limited, a shareholder of the Company, in 2006.

  • Cathay Pacific competes with full service and low-cost carriers and with existing and new airlines.


More Definitions of Cathay Pacific

Cathay Pacific means Cathay Pacific Airways Limited;
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Cathay Pacific or the “Company”) has been named as a defendant in civil complaints in a number of jurisdictions in respect of air cargo operations. One of these jurisdictions is Australia. Cathay Pacific has agreed terms to settle the Australian civil cargo antitrust class action in which it is a respondent. Under the terms of settlement, which is subject to approval by the Federal Court of Australia, Cathay Pacific has agreed to make a payment to settle this litigation without any admission of liability or wrongdoing whatsoever. Under the terms of settlement (to which a number of airlines are parties) the settlement amounts payable by individual airlines are to remain confidential. The amount payable by the Company is not material to its financial position. An amount sufficient to cover the amount payable by the Company was provided in the accounts of the Company before 2013. Accordingly, the settlement is not expected to have a material effect on the results of the Company to be reported in the future. Cathay Pacific has been named as a defendant in civil complaints in a number of jurisdictions in respect of air cargo operations. One of these jurisdictions is Australia. In July 2009, the Company received a statement of claim, subsequently amended, from the Australian Competition and Consumer Commission (“ACCC”) with regard to its air cargo operations. In December 2012, agreement was reached between the Company and the ACCC to settle the allegations which arose out of the amended statement of claim. Under the settlement, which was approved by the Federal Court of Australia, Cathay Pacific admitted to certain violations of the Australian Trade Practices Act and made a payment of A$11.75 million (approximately HK$95.4 million at the December 2012 exchange rate). This brought to an end the Australian regulatory antitrust proceedings against the Company in respect of its cargo operations. Along with other airlines, the Company is a respondent in an Australian civil antitrust class action in respect of its cargo operations. Cathay Pacific, together with other airlines, has agreed terms to settle the Australian civil cargo antitrust class action in which it is a respondent. Under the terms of settlement, which is subject to approval by the Federal Court of Australia, Cathay Pacific has agreed to make a payment to settle this litigation without any admission of liability or wrongdoing whatsoever. Any settlement amounts payable by individual airlines under the terms of settleme...
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Cathay Pacific and approving the settlement agreement entered into with Cathay Pacific; [2] CONSIDERING the Settlement Agreement entered into between Petitioner and Cathay Pacific dated ●, 2015 and attached to this Judgment as Schedule "A" (the "Settlement Agreement"), the materials filed, and on hearing the submissions of counsel for the Petitioner and counsel for Cathay Pacific, including that Cathay Pacific does not admit, through the execution of the Settlement Agreement, any allegation of unlawful conduct alleged in the Quebec Action; [3] CONSIDERING THAT Plaintiff and Cathay Pacific consent to this Judgment, and with prejudice, and the Non-Settling Defendants take no position on this Judgment; [4] CONSIDERING THAT for settlement purposes only, Cathay Pacific does not dispute that the criteria of article 1003 C.C.P. are satisfied; [5] CONSIDERING THAT the Court finds that the Settlement Agreement is fair, reasonable and in the best interests of the Quebec Settlement Class; FOR THESE REASONS, THE COURT ORDERS THAT:
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