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CATHAY PAC AIR CEO: Aviation Fuel Costs Concerning; Route Reduction Last Resort
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CATHAY PAC AIR (00293.HK)'s CEO, Ronald Lam, said at a celebration event in Seattle that, since the end of February, when a conflict between the US and Iran led to a significant decrease in passenger traffic through the Middle East, there has been an increase in demand for CATHAY PAC AIR's long-haul flights to North America, Europe and Australia. However, the situation with aviation fuel costs is also concerning. If fuel prices remained double its pre-conflict levels for an extended period, it will be difficult to sustain passenger and cargo demand. The Company's primary short-term goal is to maintain flight capacity, Lam added. Although the Middle East conflict has driven up aviation fuel prices, reducing capacity will only be a 'last resort.' AASTOCKS Financial News Website: www.aastocks.com |
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