Cathay Pacific Airways hopes to further raise its stake in Chinese flag carrier Air China, chief executive Tony Tyler said recently according to Dow Jones, although he noted the company’s plans will be limited by the free float requirements for listed companies. The Hong Kong-based carrier has in recent weeks bought additional Hong Kong-traded shares in Air China, to reduce the diluting effect on its stake after Air China completes its planned issuance of new shares in Hong Kong … [Read more...] about HONG KONG: Cathay hopes to raise stake in Air China

Cathay Pacific is in talks with Boeing and Airbus for B787 and A350 aircraft to replace ageing planes. The airline is favoring smaller long-range jets more suited for carrying cargo than Airbus A380 superjumbo and Boeing’s 747-8, the biggest airliner the Chicago-based company has ever built, CEO Tony Tyler said recently. “We have no plans at the moment to have a campaign on the A380 or on the 747-8 Intercontinental,” he said. “We’re talking to Boeing about … [Read more...] about HONG KONG: Cathay looking at B787, A350 order

Cathay Pacific and Dragonair have reported combined traffic figures for May 2010 showing significant rises in cargo and mail compared to the same month in 2009. The two airlines carried a total of 158,600 tonnes of cargo and mail last month, up 30 per cent on May last year. The cargo and mail load factor was 79.1 per cent, a rise of 10.9 percentage points, while capacity, measured in available cargo/mail tonne kilometres, was up by 19.7 per cent. For the year to date, tonnage has risen by 25.4 … [Read more...] about HONG KONG: Cathay and Dragonair see continuing cargo uptick

Korean Air Cargo has maintained its No. 1 ranking as the biggest air cargo airline in terms of Freight Tonne-Kilometres (FTKs) for 2009, a title its heldsince 2004. New International Air Transport Association (IATA) statistics have shown that Korean Air maintained and improved top traffic records in 2009 despite the global economic slowdown that depressed the air cargo market. According to World Air Transport Statistics compiled by IATA, Korean Air topped the global rankings for commercial … [Read more...] about SOUTH KOREA: Korean Air Cargo remains No. 1 cargo carrier