Cathay Pacific will push back deliveries of two Boeing 747-8 Freighters in response to weak cargo demand.
The airline said it will still take delivery of four 747-8Fs next year but will delay two others to 2013. The move will cut the carrier’s cargo capacity growth in 2012 from 17 per cent to 10 per cent, in line with a downgraded forecast for cargo demand.
The world’s largest cargo carrier, Cathay took delivery of four 747-8Fs this year out of a total order of 10.
Last week, the carrier reported a 13.8 per cent drop in cargo throughput for November. Cathay CEO John Slosar told the airline’s staff magazine that weak cargo demand could foreshadow slackening passenger numbers, which have so far remained steady.
“If, as is usually the case, cargo is a lead indicator and our passenger business starts to decline then of course we need to be prepared,” he said.
The International Air Transport Association this month cut its forecast for industry profits amid concerns that the European debt crisis could trigger a global recession.