Thursday, November 25, 2010

Cathay Pacific to Boost Capacity 11% Next Year on Global Travel Pickup

Cathay Pacific Airways Ltd., the Hong Kong carrier expecting a record yearly profit, will increase passenger capacity 11 percent next year as the economic pickup stokes demand for premium-class travel.

“It’s certainly very strong at the moment,” Chief Executive Officer Tony Tyler said in an interview in the city today. “That’s giving us a fine feeling and, of course, great results.”

The airline is due to get nine new widebody passenger aircraft next year as rising wages in China and a rebound in the worldwide economy spurs demand for business and leisure flights. Asia-Pacific travel growth will likely continue to outpace global demand next year, said Andrew Herdman, director general at the Association of Asia Pacific Airlines.

“I’m optimistic we’ll see continued growth into 2011,” Herdman said in a Bloomberg TV interview in Kuala Lumpur. Airlines in the region “have got costs under control and they’re managing power carefully,” he said.

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