Cathay Pacific Airways Limited, which was founded in 1946, is an international airline registered and based in Hong Kong, offering scheduled passenger and cargo services to 162 destinations in 42 countries and territories around the world. With a fleet of 132 aircraft, the substantial investments of Cathay Pacific include catering, ground-handling companies and the corporate headquarters at Hong Kong International Airport. As a wholly airline owned subsidiary of Cathay Pacific, Hong Kong Dragon Airlines Limited (“Dragonair”) operates 32 aircraft on scheduled services to 33 destinations in Mainland China and elsewhere in Asia. In 1999, Cathay Pacific co-founded the Oneworld global alliance with its subsidiary, Dragonair, as an affiliate member of Oneworld. Nowadays, Cathay Pacific and its subsidiaries employ more than 29,000 people worldwide (more than 22,000 of them are in Hong Kong). Today's Cathay Pacific has quickly grown into one of the most powerful airlines in Asia. 
(Sources from: Cathay Pacific Airways Limited Annual Report 2011, p26) 2. External Environment Pressures and Business Strategy
With the slogan——People. They make an airline, Cathay Pacific has committing to become the most admired airline in the past six decades. Although the development of Cathay Pacific during this period was not easy: suffered adverse impact from the aviation industry overcapacity, experienced the Asian financial crisis and avian influenza in 1997, faced with the pilots’ collective strike in 1999, experienced "911" and SARS, impacted by the ever-fluctuating fuel price and the rapid development of budget airlines in the past decade, Cathay Pacific has made a series of strategic responses to solve these crisis and challenge actively.
In the mid-1990s, with the growing aviation market competition, the company’s original rigid management system has restricted the development of Cathay Pacific....