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Cathay Pacific notes 'airfreight slump'; expands into high potential China markets

19-Oct-2011 4:02 PM

Cathay Pacific, in the Oct-2011 edition of CXWorld, stated the airline is responding to the "airfreight slump" by seeking out new
markets, launching new freighter services to two Western China cities – Chongqing and Chengdu – that are rapidly developing as high tech manufacturing centres. The carrier noted that an extremely strong year for cargo in 2010 was "always going to be difficult to beat, but a downturn in the two key markets of Hong Kong and Mainland China has turned 2011 into a challenging year". He added that although the situation in 2011 is concerning, it remains above 2008 levels. [more - original CXWorld Newsletter] [more - CAPA Analysis]