Cathay Pacific expects goods business to improve
written by Ken
at Monday, June 6, 2011
Cathay Pacific Airways Ltd. (0293.HK) expects its cargo operations to improve in the second half after a softer first half, and China remains its major increase driver as the nation's demand for air travel continues to soar, Chief Executive John Slosar said Monday. The blue-chip carrier's weekly cargo income was behind target because of softening demand in its Hong Kong home market, according to an internal document seen by Dow Jones Newswires on Sunday.
Slosar said on the sidelines of the International Air Transport Association's annual meeting in Singapore that the blue-chip carrier will continue to look at buying more aircraft but he declined to complicate. Slosar said he hopes to take delivery of freighters scheduled for the second half of this year, but he doesn't have a timetable and is in deliberations on that. He also said the yields on first- and business-class fares have returned to pre-crisis levels.
