HONG Kong's cathay Pacific Airways has predicted stronger cargo business in the second half of the year as the airport battled back to 50 per cent of its pre-pandemic passenger levels.
The airline's director of cargo Tom Owen said he was optimistic about the airline's future in the sector, where it is one of the world's biggest players.
He added, despite weaker economic conditions, Cathay's cargo industry was in 'growth mode', reports Hong Kong's South China Morning Post.
'In terms of the yield outlook, we're still hopeful that the second half of the year will be more robust than the first half of the year,' he explained.
The airline relied on its profitable cargo division for most of its revenue during the Covid-19 pandemic after its passenger business was hammered by health restrictions.
Cathay's passenger capacity is expected to return to 70 per cent of 2019 levels by the end of the year, but its cargo capacity is expected to hit 85 per cent.
Mr Owen was speaking as the airline unveiled its first freight aircraft to carry the new Cathay Cargo livery.
The event was attended by airport officials, Cathay CEO Ronald Lam and Hong Kong's Secretary for Transport and Logistics, Lam Sai-hung.
'Capacity building will be critical for the continual development of air cargo business in Hong Kong, especially in face of land shortage,' Mr Lam said.
He highlighted the third runway, scheduled to be completed in 2024, as well as the planned logistics park in Dongguan, in mainland China's Guangdong province.
Hong Kong's airport is the world's busiest for cargo and handled about 4.2 million tonnes of freight and airmail in 2022.
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The airline's director of cargo Tom Owen said he was optimistic about the airline's future in the sector, where it is one of the world's biggest players.
He added, despite weaker economic conditions, Cathay's cargo industry was in 'growth mode', reports Hong Kong's South China Morning Post.
'In terms of the yield outlook, we're still hopeful that the second half of the year will be more robust than the first half of the year,' he explained.
The airline relied on its profitable cargo division for most of its revenue during the Covid-19 pandemic after its passenger business was hammered by health restrictions.
Cathay's passenger capacity is expected to return to 70 per cent of 2019 levels by the end of the year, but its cargo capacity is expected to hit 85 per cent.
Mr Owen was speaking as the airline unveiled its first freight aircraft to carry the new Cathay Cargo livery.
The event was attended by airport officials, Cathay CEO Ronald Lam and Hong Kong's Secretary for Transport and Logistics, Lam Sai-hung.
'Capacity building will be critical for the continual development of air cargo business in Hong Kong, especially in face of land shortage,' Mr Lam said.
He highlighted the third runway, scheduled to be completed in 2024, as well as the planned logistics park in Dongguan, in mainland China's Guangdong province.
Hong Kong's airport is the world's busiest for cargo and handled about 4.2 million tonnes of freight and airmail in 2022.
SeaNews Turkey
