Friday, December 19, 2014   




Cathay chief cautious as economy picks up

Tuesday, December 10, 2013

Cathay Pacific Airways (0293) chief executive John Slosar expects next year to be busy as the global economy improves but remains cautiously optimistic on cargo.

The carrier will keep adding destinations to its services, such as cities near Hong Kong, while also increasing the frequency of long-haul trips, Slosar said yesterday.

Asia still holds potential for business growth for Cathay, but high oil prices remain a burden.

So, the carrier will have a total of eight Boeing 777 aircraft in service next year, which offer fuel savings of about 23 percent compared to the original Boeing 747, while a more fuel-efficient Airbus A350 will also be introduced in 2016.

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Cathay's cargo business has stayed weak since the best time in 2010, but during the peak season starting November, the business performance was within expectations.

He said it is still early to predict the outlook for next year, but he is still cautiously optimistic.

Meanwhile, under "The Spirit of Hong Kong" campaign - Cathay's latest - the carrier has given out 620 free round-trip tickets.

The airline said last week staff will get a 4.5 percent pay rise for 2014, and a one-month bonus. IMOGENE WONG


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