HONG KONG's Cathay Pacific Cargo has added extra fees to blocked space agreements, the first publicly known contract casualty of the air peak season, reports London's Loadstar.
Cathay sent notices to customers informing them that a general rate increase of HK$18/ kg (US$2.31) would be added to the base rate for all transpacific routes from midnight on November 15 for all flights departing Hong Kong, 'until the end of the contractual period'.
The carrier also issued a notice for Hong Kong to Indian routes, where it added a GRI of HK$7/kg for the same period. Cathay told customers the changes were made 'to reflect the latest air cargo market situation'.
The market has been expecting some reneging on contracts. One air freight buyer told The Loadstar he had lost out on a booking when another company offered US$500,000 more for the capacity, commenting: 'I can't blame the airline, to be honest. An extra half million is quite a lot.'
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Cathay sent notices to customers informing them that a general rate increase of HK$18/ kg (US$2.31) would be added to the base rate for all transpacific routes from midnight on November 15 for all flights departing Hong Kong, 'until the end of the contractual period'.
The carrier also issued a notice for Hong Kong to Indian routes, where it added a GRI of HK$7/kg for the same period. Cathay told customers the changes were made 'to reflect the latest air cargo market situation'.
The market has been expecting some reneging on contracts. One air freight buyer told The Loadstar he had lost out on a booking when another company offered US$500,000 more for the capacity, commenting: 'I can't blame the airline, to be honest. An extra half million is quite a lot.'
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