Cathay Pacific expects yields to take "most of year" to recover: COO
Cathay Pacific COO, John Slosar, stated the carrier would decide soon whether to add Premium Economic class seating (Bloomberg, 02-Apr-2010). Mr Slosar added that yields have been "strong in 1Q2010", but are likely to take "most of the year" to recover after 20% falls in 2009. He added that a slump in demand in 2009 “was mostly cyclical, rather than structural".
Cathay Pacific: “In the first quarter, it’s been strong. We managed to move the yields up a bit, but still below where they were in 2008. We think it will take, hard to tell, but most of this year...Premium travel’s come back reasonably well. Fares at premium travel are not yet up to pre-crisis levels. But they are drifting up to that direction," John Slosar, COO. Source: Bloomberg, 02-Apr-2010.