26-Nov-2012 12:53 PM

Cathay Pacific: Yields down by around 4%, top corporate customers travelling 15% less

Cathay Pacific CEO John Slosar, in CX World Magazine Nov-2012, stated (Nov-2012) premium traffic has been "soft" in 2012 due to the world economic situation. He noted, "Our top corporate customers in the financial industry are travelling more than 15% less than they did the previous two years." He added the "real problem" is the decline in average ticket prices, which are below budget and below last year by about 4%. "Many airlines are facing similar challenges and thus the competition for passengers is even more intense than usual." [more - original PR]