All Cathay Pacific Articles – Page 6
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News
HSBC sees vaccine supporting Asia-Pacific air freight rates in 2021
HSBC expects vaccine distribution to support cargo rates at Asia-Pacific carriers in 2021, with Cathay Pacific, China Airlines, Korean Air, and China’s ‘big three’ to be the main beneficiaries.In a research note, HSBC estimates that coronavirus vaccine distribution will add just 2% to global air cargo demand, but that this ...
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NewsDigitalisation and partnerships key for Cathay Pacific's new head of cargo
Tom Owen, Cathay Pacific CargoDigitalisation and the continued expansion of its partnership programme are two key priorities for Cathay Pacific's new head of cargo.Speaking to the airline's Cargo Clan publication, Cathay Pacific's new head of cargo Tom Owen outlined how he saw the cargo business progressing.Owen, who has worked Cathay's ...
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Cathay to park 40% of fleet in long-term storage overseas
Beleaguered Cathay Pacific will move about 40% of its fleet to long-term storage locations overseas, as it adjusts downwards its forecasted capacity for the coming months.In its monthly traffic results for August, Cathay confirmed that it is parking a significant number of aircraft overseas, given that it “will be operating ...
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Seat removal helps boost cargo at Cathay Pacific
Cathay Pacific saw its cargo volumes increase in July compared with a month earlier as it began flights using B777 aircraft with some seats removed.The airline group said that cargo volumes in July increased by 10% compared with June to 102,129 tonnes. However, this is still 39.8% down on a ...
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Cargo the bright spot as Cathay navigates "most challenging" period
Cathay Pacific Group reported an operating loss of HK$8.7bn ($1.13bn) for its half-year financial results, in what its chairman called the “most challenging” period for the group in its 70-year history.Cargo proved to be the sole bright spot for the troubled group, which in recent months was the subject of ...
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Cathay Pacific makes changes to cargo management team
Hong Kong-based carrier Cathay Pacific has made changes to its cargo management teamThe carrier has appointed Tom Owen into the role of director of cargo.Owen has served on the Cathay Pacific leadership team as director of people for the past five years. He has previously held a variety of senior ...
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NewsHAECO strips out B777 seats for Cathay cargo flights
HAECO Xiamen has stripped out seats from Cathay Pacific B777s to increase their cargo capacity.The conversion and maintenance firm said that the modification is covered by a Supplemental Type Certificate and has been directly approved by the Hong Kong Civil Aviation Department (HKCAD). It also uses HAECO Xiamen’s HKCAD Part ...
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News
Cathay cargo volumes under pressure as company issues profit warning
Cathay Pacific Cargo saw its airfreight volume declines deepen in June as urgent demand for personal protective equipment continued to ease.The airline saw traffic in cargo and mail tonne km terms decline by 35.8% year on year to 596m in June, while cargo volumes were down 43.1% compared with last ...
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NewsDeclining rates add to pressure on cargo-only PAX flights
Freight rates out of China continued their return to normal seasonal levels last week, putting further pressure on the use of passenger-freighter flights.The latest figures from TAC Index show that average rates from Shanghai to Europe last week declined by 30.8% week on week to $3.70 per kg. Prices are ...
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News
Cargo the highlight for Cathay Pacific in May
Cathay Pacific said that cargo was the highlight of its May performance despite a near 30% year on year drop in cargo carried.The Hong Kong-hubbed airline group, which this week look set to secure a HK$39bn government bailout, saw cargo and mail revenue tonne kms fall by 29.1% year on ...
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News‘Nothing off the table’ says Cathay chairman in business review
Cathay Pacific chairman Patrick Healy has warned that “tough decisions will need to be made” by the fourth quarter of the year as part of “right-sizing” efforts.He adds that “nothing is off the table” in the upcoming review of the Cathay Pacific group’s business model, but stopped short of saying ...
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Cathay Pacific set to receive big government bailout
The Hong Kong government has stepped in to provide beleaguered Cathay Pacific with a financial lifeline, as part of the airline’s group HK$39 billion ($5 billion) recapitalisation plan.Cathay, which has been hard hit by a collapse in travel demand from the coronavirus outbreak, states that the recapitalisation plan - if ...
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Cathay Pacific cargo volumes fall by almost 50%
Cathay Pacific saw its cargo volumes decline by 48.3% year-on-year in April, but since then it has ramped up capacity.The decline meant that the Hong Kong-hubbed airline group handled a total of 84,634 tonnes during the month.Meanwhile, cargo and mail revenue tonne kms slipped 37.3% year on year in April ...
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News
Korean Air the latest to offer cargo only-PAX flights
Korean Air has become the latest carrier to offer up its passenger aircraft for cargo-only operations, joining Scoot and Cathay Pacific.According to FlightGlobal, the airline said it planned to deploy passenger aircraft that have been idled since February 25 to carry cargo on flights to Qingdao.The flights will begin on ...
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NewsScoot to fly cargo-only PAX flights to China
Scoot B787-9Singapore-based low-cost airline Scoot will operate cargo-only passenger flights to China over the coming weeks as demand outstrips supply.The airline told Air Cargo News that it would operate "belly-hold freight charters" flights on behalf of parent Singapore Airlines' cargo arm in March.The flights will operate from Singapore to Guangzhou ...
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Cathay Pacific Cargo performs "below expectations"
Cathay Pacific reported that its cargo division performed "below expectations" last year, with cargo revenues of HK$21.1bn – a 14.3% decrease on 2018 revenues.Cargo revenue tonne km decreased by 6.7% to 11.3bn, volumes decreased by 6% to 2m tonnes and yields decreased by 7.9% to HK$1.87.Load factor declined by 4.4 ...
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China airfreight rates spike while Cathay mulls cargo only PAX flights
Airfreight rates from China increased rapidly last week as demand from China begins to ramp up but spare capacity remains tight.The latest figures from TAC Index show that last week average airfreight prices from Shanghai to North America increased by 32.3% on a week earlier to $4.02 per kg, while ...
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Cathay Pacific under pressure as cargo volumes fall
Cathay Pacific saw its cargo volumes decline in January, while it also warned that financial results will come under pressure.The airline group handled cargo volumes of 151,964 tonnes in January, which represents a decline of 8.9% year on year.Meanwhile, the cargo load factor for the month was down by 1.4 ...
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Cathay Pacific finds positives among declining cargo volumes
Although total cargo and mail uplifted by the Cathay Pacific Group fell in December compared with a year ago, there are some bright spots among the latest freight statistics.“Our overall volume in December was on par with November and we enjoyed good all-round support from and to all the regions ...
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Cathay Pacific expects a weak first half of 2020 for cargo
Cathay Pacific is expecting a weak start to next year, but is more optimistic for 2020 as a whole.The Hong Kong hubbed airline said that its cargo performance continues to come under pressure and this is expected to continue next year.Last month, Cathay Pacific and Dragon Air carried 177,964 tonnes ...