Cathay cargo loss nears 10 per cent

CATHAY Pacific’s freight volumes dropped 8.6 per cent last year, as the airline filled 67.2 per cent of cargo space – a decline of 8.5 per cent.

“2012 is looking even more challenging than 2011,” chairman Christopher Pratt states. “We expect pressure on economy-class yields and our cargo business in particular to remain weak.”

The airline plans to boost capacity by 10 per cent for cargo with the addition of four freighters this year.

The carrier’s annual profit fell 50 per cent.