Thursday, 10 March 2011

Cathay Pacific Launch Expansion Plans to Capture Far East Travel Boom

The CEO of Cathay Pacific Airways, John Slosar has hinted that he continues to grow the carrier further in order to capitalise on the growth of the Chinese travel industry. The operator currently has 91 planes on order and is likely to add a further 14 aircraft to offer improved flight services and ‘the most efficient aircraft in a high-oil price environment.’

Despite the expansion plans, Cathay Pacific has no plans to order the world’s largest passenger plane, the Airbus A380 and are likely to focus on the new fleet of A350-900’s, 777-300ERs and A350-900s.

The expansion plans come on the back of Cathay Pacific’s recent growth where net income jumped to HK$14 billion from HK$4.7 billion the previous year. This has been attributed to the one off sale of stakes in ventures and full year passenger numbers jumping 9.1% to 26.8 million as the global economy improves in the region.

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