State-controlled China National Aviation Company (CNAC), which own's 43 per cent of Dragonair, has given its strongest indication yet the carrier may challenge Cathay Pacific Airway's dominance.
CNAC said yesterday that Dragonair was planning a substantial acquisition of Boeing freighters.
Dragonair plans to launch a European cargo service next month, and CNAC has long wanted to enter the long-haul passenger market. Cathay is the only domestic carrier that serves long-haul routes from Hong Kong.
'We have already been given permission to fly to Europe,' CNAC chairman Wang Gui-hsiang said yesterday.
'From this, you should be able to see where things are headed. Nothing in this business is permanent; change is the norm.' Dragonair recently received permission from authorities to launch cargo services to 25 destinations in Europe, Asia and North America. After its annual meeting yesterday, Dragonair's chief executive Stanley Hui said the carrier would acquire another two B747 freighters in the next year.
'Over the next three to five years, we will probably acquire another four to five [B747 freighters],' Mr Hui said.