Cathay Pacific anticipates fierce cargo competition this summer

Over the summer, Cathay Pacific anticipates a more competitive air cargo market and will increase the number of freighter flights it operates to North America. Lavinia Lau, the company's chief customer and commercial officer, announced that additional freighter flights to Toronto and Miami would be added over the summer. She noted that while the summer months are typically slower, no significant increase in demand is anticipated until the third quarter's end. "As overall cargo demand falls short of supply, we also expect increasingly fierce competition. "We will continue to identify new demand as we rebuild our capacity through the growth of the widebody passenger network and adjust the timetables of our freighters as necessary. "As a result, Toronto and Miami will have more freighter capacity." As it begins to resume passenger and cargo operations after lockdowns in Hong Kong last year, the carrier reports improvements in cargo volumes. The airline did issue a warning, noting that the overall cargo market was still flat and that cargo traffic was outpacing the market's capacity growth. According to Lau, the market volume was basically unchanged in May. "High inventory levels contributed to the persistent underperformance of high-tech demand and new consumer goods shipments. However, the e-commerce sector remained largely active, and as passenger services returned, aircraft engine volumes increased in the special solution segment. As a result of capacity expansion, the carrier saw cargo tonne kilometres in May rise 73.4% year over year to 654 million.

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MOU between Silk Way West And Nippon Express

In order to better satisfy their clients and adapt more promptly to evolving supply chains, Japan's Nippon Express Holdings and Silk Way West Airlines, based in Azerbaijan, recently signed a memorandum of understanding (MoU). With weekly flights between Baku and Kansai International airport since 2018, Silk Way West Airlines has been serving the Japanese market. The deal will enhance that presence. The airline said the agreement with Nippon would enable it to "play an increasingly important role in the region's freight network, constantly increasing the quality of air cargo transportation services for both Japanese and foreign partners" when it started regular service to Tokyo's Narita gateway in 2021. Through access to cargo space on Silk Way West Airlines' broad network, which includes destinations across Europe, the CIS, the Middle East, Central and Eastern Asia, and the Americas, the alliance will also assist Nippon Express in growing its presence globally. The Azeri carrier flies 12 Boeing 747-8 freighters, two 747-400Fs, five brand-new 777Fs, two 777-8Fs, and two Airbus A350 freighters, in addition to the five that are currently on order. The conditions of this memorandum "align perfectly with the growth strategy we are pursuing to increase our footprint in Japan, and we are hopeful that it will be beneficial for both" Silk Way West Airlines President Wolfgang Meier said, stating that 2022 marked the 30th anniversary of the formation of diplomatic relations between Japan and the Republic of Azerbaijan.

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