Summary the Article “Cathay to add 27 Jets to its fleet as 2010 Profit Soars”, The New York Times , March ,09,2011.
The Article talks about Cathy Pacific Airways which is one of the biggest airways company in Asia.
The Company has announced that the huge increasing in the oil prices could lead to decline in the profit of the company. Many companies around the world have concern about the huge increasing in the oil prices. According to the article “Fuel cost which typically make up 25 percent to 35 percent of airlines’ operating costs, also represent a constants element of uncertainty”. That indicates the high oil prices will lead to increase the transportation cost. Increasing the oil price will have an impact about production cost of many products, economic growth, increase the unemployment rate. Therefore, many companies will start to think about using alternative sources to operate their machines and to decrease the production cost, so they can stay in the competitive market.
