Cathay Pacific plans to grow its revenue beyond flying passengers, envisioning a set-up similar to US retail giant Amazon, in which customers are encouraged to spend on goods, services and products through the airline rather than just buying air tickets.
Under the pivot, executives expect to rejig the carrier’s position in the group, paving the way for new business initiatives to sit alongside the airline within a “Cathay” ecosystem, according to sources.
Senior management have likened the initiative to that of low-cost carrier AirAsia, which has branched out into businesses including food delivery, online groceries and health and insurance segments. The Malaysia-based firm has a target of generating half of its revenue from non-aviation businesses by the end of 2024.
Cathay Pacific declined to answer questions on its efforts, although a company spokeswoman on Saturday said to “stay tuned” for more information.
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