Cathay Pacific COO: 747-8F is 'doing well for us'

Cathay Pacific COO Ivan Chu, speaking at the CAPA Australia Pacific Aviation Summit, stated (08-Aug-2013) Cathay Pacific Cargo's Boeing 747-8F fleet is "doing well for us" adding "fuel prices have ended the days of old freighters making money." Mr Chu said "the economics of the business have changed," and cargo carriers "must fly fuel efficient aircraft in event the most robust market to achieve profitability." Mr Chu added the carrier is "looking to focus on high value items and special products" and is looking "to increase cargo value by reducing transit time." Mr Chu also said the "air cargo business will rebound, and we will be perfectly placed to capitalise."