Managing resource within a changing economic climate (CX airline) Essay

Managing resource within a changing economic climate (CX airline) - Essay Example In keeping with the global recognition and its continuous striving efforts in the airline industry, Cathay Pacific significantly performs streamlined operations, which enables the organisation to build substantial economic growth. In recent times, it is observed that the financial performance of the organisation is rapidly increasing due to its exceptional business strategies. Currently, the airline operations of Cathay Pacific involve two major divisions i.e. Airlines Business Division (ABD) as well as Non-Airline Business Division (NBD) that substantially provide a major support to the overall business performances of the organisation. Moreover, the company also operates its effective airlines operations through Dragon Airlines (Dragonair), a major subsidiary division of Cathay Pacific which incorporates different airline services such as aircraft engineering and handling, aircraft catering as well as infrastructure management [2] (Cathay Pacific Airways Limited, 2011). Based on the different operational services and a range of airline services of Cathay Pacific, the aim of this report is to provide a clear assessment of financial performance of Cathay Pacific in the prevailing global economic environment. Moreover, the discussion of this report would further encompass the process of developing recruitment, selection along with retention plans for Cathay Pacific in the global airlines industry. According to Cathay Pacific’s annual report of the year 2011, it has been observed that the organisation was considerably affected due to the instability as well as uncertainty of the global economies. The most affected area of Cathay Pacific during the year 2011 was its cargo business which has been observed to be quite diminishing at the last three quarter of the year. The cargo business of Cathay Pacific was affected due to the