Air China and Hong Kong's Cathay Pacific Airways will jointly set up China's biggest cargo joint venture in Shanghai in early 2010 as the two carriers aim to tap the surging cargo volumes out of Shanghai Pudong. Air China will hold 51 per cent and Cathay Pacific will hold the remainder in the joint venture which will see the two carries contributing 10 B747-400 freighters. … [Read more...] about New cargo JV for Air China/Cathay
Cathay Pacific
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. … [Read more...] about DHL, Cathay ink cargo security partnership
Cathay signs leaseback deal for six B777s
Cathay Pacific has signed an agreement with aircraft leasing company BOC Aviation for the sale and leaseback of six of the 19 Boeing 777-300ER aircraft it has on order. CEO Tony Tyler said the move was consistent with the airline's "cash-preservation" strategy saying Cathay had no intention of cancelling aircraft orders. … [Read more...] about Cathay signs leaseback deal for six B777s
Garuda latest to be fingered for price fixing
As part of the on-going global investigation into price fixing within the air cargo industry, Australia’s consumer watchdog has this week started proceedings against Garuda, accusing the Indonesian carrier of participating in a global cargo fuel surcharge cartel. The Australian Competition and Consumer Commission (ACCC) earlier initiated proceedings against Singapore Airlines Cargo in December 2008, Cathay Pacific Airways in April of this year and Emirates in August. The three have … [Read more...] about Garuda latest to be fingered for price fixing
HONG KONG: Cathay posts H1 profit
The Cathay Pacific Group reported a profit of HK$812 million (US$104.8 million) for the first six months of 2009, compared to a loss of HK$760 million in the first half of 2008, thanks primarily to a HK$2.1 billion fuel hedging gain. Overall the group – which includes its Dragonair subsidiary – has been hit by a deep and sustained downturn in its key markets, with sharply reduced passenger and cargo revenues resulting in a 27.1 per cent drop in turnover to HK$30,921 … [Read more...] about HONG KONG: Cathay posts H1 profit
International Air Transport Association
The International Air Transport Association (IATA) announced that Cathay Pacific Airways CEO Tony Tyler started his one-year term as the Chairman of the IATA Board of Governors. Tyler succeeds Samer Majali, CEO of Royal Jordanian Airlines, who served as Chairman from June 2008. Tyler is a 32-year veteran of the air transport industry who has served as Cathay Pacific CEO since 2007. He worked for Cathay Pacific and the Swire Group in many cities across the globe and has been on the … [Read more...] about International Air Transport Association
