Cathay Pacific delayes delivery of new planes
December 19, 2011
Cathay Pacific, the largest global air cargo carrier, is to delay taking delivery of two B747-8 freighters, as it slows next year’s capacity expansion amid waning demand.
The Hong Kong-based carrier will postpone delivery of the two aircraft to 2013 instead of next year, the company said, adding that it would expand its cargo capacity by 10% instead of an earlier plan for 17%.
Cargo tonnage at Cathay fell for eight consecutive months this year, as slowing global economic growth dampened orders for Asian-made goods from US and European retailers.
The carrier, which is developing a new cargo terminal at Hong Kong that may open in 2013, is due to receive four freighters this year.
Boeing itself delayed the introduction of the aircraft, the largest commercial freighter, by about two years, partly because it had diverted engineers to work on the 787 Dreamliner.
Courtesy of IFW
