Inancial assessment of Cathay Pacific Essay Example | Topics and Well Written Essays - 3000 words

Inancial assessment of chinaware Pacific - Essay Exampleal, 2008). It has also been apparently observe that the fiscal action of different companies is regarded as one of the important aspects of modern business. In this age of spherical economic crisis, companies are more interested in managing business in such a room so that they can accomplish their respective business targets successfully. Its financial statements can determine the financial performance of any companionship. Various factors can affect the financial performance of companies at large. Hence, it is the responsibility of the management of different companies to detect the potential threats and ensure that their financial position remains stable. One of the major business targets of the companies is to prolong sustainable business with profitable growth. It can be seen that the financial performance of companies largely depends on the aptitude of their operations that is directly related to the performance of the employees in this present day context. In order to seduce itself different from other rival competitors, companies need to have a proper and efficient work lastingness that can effectively work towards the accomplishment of the organizational goals by a considerable level. In this regard, the enlisting and retention policies of different companies seem to be quite significant in as far as goal attainment is concerned (Knight& Bertoneche, 2000 Jackson & et. al., 2011). This paper seeks to provide a clear assessment of the financial performance of Cathay Pacific within the context of the prevailing global economic climate. On bakshish of that, the paper also seeks to develop effective plans in terms of recruitment, selection, and retention for Cathay Pacific. Company Overview Cathay Pacific is a Hong Kong based Airline Company. The play along operates in 42 countries throughout the globe and it was constituted in 1946 in Hong Kong. Since then it has acquired a leading positi on in the global airline industry. The company competes with different airline companies across the globe and it strives to deliver quality services to the customers. The company achieved numerous awards since its inception. In 2003, the company attained airline carrier of the year award that significantly distinguished itself from its rival competitors. The company became extremely popular for its excellent services to the customers better known as service straight from the heart. This ridiculous quality of the company eventually made it one of the most reputable airline companies in the being (Cathay Pacific, n.d. Cathay Pacific, 2011). Global Economic Climate of the Airline Industry The global economy experienced a downfall during the previous years. It can also be said that the airline industry was not spared by this global economic crisis. The rise of fuel price also had a severe impact on the airline industry. In addition, it has been further noted that the new regulations i mposed by the European Union particularly in the catering area as well as safety has also effected the workings operations of the airline companie