Cathay Pacific yesterday said that with increasing air traffic demand in sight, it is increasing its fleet this year.
The carrier said it would take delivery of five airliners this year, including four Boeing 777-300ERs and an Airbus 330-300 - the same number of new planes as last year, one of the peak years for aircraft delivery.
The carrier also deferred the mothballing of one of two Boeing 747-400s that it had been planning to retire.
'Most people believe that 2010 will be a better year than 2009, and I agree,' Cathay chief executive Tony Tyler was quoted as saying in the internal CX World magazine. 'However, it's not going to be an easy ride.'
The International Air Transport Association (Iata) predicts the global aviation industry would see large losses for the year, but the deficit would shrink to US$5.6 billion compared with the US$11 billion last year.
'Despite the signs of returning travel and freight demand, airlines have continued to be extremely cautious about capacity,' Iata said in a report released yesterday.
Since early 2008, passenger capacity has been cut by 7 per cent on international markets and freight capacity by 10 per cent.