Cathay Pacific Airways announced today that it is the first airline investor in Fulcrum BioEnergy, Inc., a US-based sustainable biofuel developer, as part of the airline’s biofuel strategy and to help it achieve a target of carbon-neutral growth from 2020. The airline has made a strategic equity investment in Fulcrum, which is a world pioneer in the development and commercialisation of converting municipal solid waste into sustainable aviation fuel or 'biojet fuel’. … [Read more...] about Cathay Pacific invests in US biofuel developer
Cathay Pacific Airways
Cathay warns of hard times ahead
Cathay Pacific Airways has warned that its financial results for the first half of 2012 are “expected to be disappointing”. In response to the changing market conditions and challenging business environment, the group is readjusting the capacity of both Cathay Pacific and Dragonair by reducing capacity on some long-haul routes while increasing capacity and introducing six new destinations in its regional network. Since the airline announced its annual results in March, fuel … [Read more...] about Cathay warns of hard times ahead
Third runway for HK passes first hurdle
Hong Kong’s government has given a crucial ‘in principal’ green light for the plan to build an HK$86.2 billion (US$11 billion) third runway at the world’s busiest cargo and Asia’s third busiest passenger airport. The airport’s two existing runways are forecast to reach capacity by 2020. “The executive council has approved in principal the airport authority’s recommendation to adopt the threerunway system as the future development option for … [Read more...] about Third runway for HK passes first hurdle
Cathay and Air China ink air cargo JV
Cathay Pacific Airways and Air China have set up an air-cargo joint venture in China, according to a joint statement by the carriers on Thursday, finalising an agreement after discussions lasting nearly four years. The joint venture will be 51 per cent owned by Air China and make use of the mainland Chinese carrier's existing air-cargo unit, Air China Cargo, as a platform. Cathay will have a 25 per cent equity stake and an indirect 24 per cent stake through an offshore trust. The agreement will … [Read more...] about Cathay and Air China ink air cargo JV
Air China gets government cash infusion
The Chinese government has approved a 1.5 billion yuan capital injection into Air China, which will give a push to the air cargo joint venture with Cathay Pacific Airways. The Beijing-based carrier - China's largest international carrier - will receive the funds from its controlling shareholder China National Aviation Holding Co. Air China will use the capital to acquire a minority interest in its cargo unit, Air China Cargo, the airline said in a statement. Launched in 2003, Air China Cargo … [Read more...] about Air China gets government cash infusion
DHL, Cathay ink cargo security partnership
DHL Global Forwarding and Cathay Pacific Airways have signed a memorandum of understanding (MOU) for a Security Partnership Programme. Under the MOU, DHL Global Forwarding will further enhance the security of high-value freight for customers, including pharmaceutical, fashion or high-technology that are pre-alerted as requiring special loss prevention measures, the company said. The aim of the security partnership programme between two parties is to share the industry best practices in loss … [Read more...] about DHL, Cathay ink cargo security partnership
