Hong Kong-based Cathay Pacific Airways released a preliminary report on its first-half financial results today. As might be expected given the recent fall-off in cargo traffic in the Asia-Pacific region, Cathay reported its first-half tonnage down 4%, although cargo yield was up 7.1% and cargo revenue rose almost 9%, so the picture is certainly not as gloomy as it could be.
Along with the summary of its first-half performance, Cathay announced that it had placed a firm order with Boeing for eight 777 Freighters and four 777-300ER pax aircraft, with delivery from 2013 through 2016. Cathay said the 777Fs would be used both to expand its fleet and to replace some of its older 747-400BCFs.
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