Wednesday, March 29, 2006

Cathay Pacific announces plan to increase cargo to and from India

Cathay Pacific Airways announced that it is planning to increase cargo capacity to and from India with an additional seven B747-400 freighter flights to and from Mumbai.
The airline, named the ‘Airline of the Year 2006’ award by Air Transport World (ATW) magazine, believes that cargo is an important revenue earner and is keen to grow its presence in the Indian cargo market.
Cargo currently represents about 30 per cent of the total revenue of the airline.Cathay Pacific recently announced a profit attributable to shareholders of HK$3,298 million in its 2005 annual profits. This was a reduced profit as compared with the profit of HK$4,417 million the previous year as high fuel prices continued to weigh heavy on the airline.
28/03/06 Afternoon Dispatch & Courier
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