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To: Chris who wrote (4866)	1/18/1998 3:58:00 AM
From: Chris	Read Replies (2) \| Respond to of 42787

[my fear on boeing] read the post below and think of a logical reason how are the asian airlines going to pay for the million $$ deals with boeing on the new aircraft? i think many asian airlines will cancel their orders.. Subject: HONG KONG \| Previous \| Next \| Respond \| To: Imran (1118 ) From: Tom R. Yarnall Sunday, Jan 18 1998 1:59AM EST Reply # of 1121 CATHAY PACIFIC AIRWAYS (Underperform) Salomon Smith Barney, Jan 12, HK$5.70 We reiterate our "Underperform" recommendation on Cathay Pacific despite the stock having fallen in recent days. Investors should focus on short-term earnings prospects which are likely to remain weak. The continuing weak economic environment is impacting load factors and regional currency volatility is severely affecting yields. We see little prospect for any short-term recovery in Cathay's revenues and reiterate that it will only take a moderate decline in load factors or yields from our current estimates to push Cathay into an operating loss for the first half of 1998. The broking firms, their directors and officers, and their related companies may have an interest from time to time in the securities discussed above. Their recommendations and reports are also circulated to clients before publication in this column.