Current cyclical slump in cargo is 'very real': Cathay Pacific CEO
Cathay Pacific CEO John Slosar, in the Nov-2011 edition of CXWorld, stated the current cyclical "slump" in cargo is "very real". However, he noted, "We've faced these downturns before and always come out stronger". He added in a good year, cargo will account for nearly a third of the carrier's turnover. The carrier was the largest international cargo airline in 2010, in what was a "golden year" for its air cargo business.