Cathay Pacific 2011 Annual Report Download - page 24

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22
We started a twice-weekly freighter service to
Bengaluru in August. The service operates via Delhi.
Demand on our Australian routes was strong for most
of 2011, reflecting the strength of the Australian
economy and currency. Where possible, we increased
capacity on the routes in order to meet demand.
In November 2011 we started a twice-weekly freighter
service to Zaragoza in Spain in response to strong
demand for shipments of garments to Asia.
Dragonair sells space in the bellies of its passenger
aircraft. This enables us to meet demand for cargo
shipments to and from the secondary cities to which
Dragonair flies in Mainland China.
In October 2011, we took delivery of our first Boeing
747-8F freighter. By the end of 2011, three more such
aircraft had been delivered. One of them carried a
special livery and was named Hong Kong Trader, which
was the name of our first Boeing 747 freighter,
delivered in 1982. Four more Boeing 747-8F freighters
are expected to be delivered in 2012, with the final two
arriving in 2013. These aircraft will provide more
capacity and improved efficiency on our North
American routes.
In August 2011, we announced our intention to
purchase eight Boeing 777-200F freighters for delivery
between 2014 and 2016. These aircraft will be mainly
deployed on European and Asian routes. They will
improve the efficiency of the freighter fleet and provide
additional capacity to meet expected growth in
cargo demand.
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The second of four Boeing 747-400BCF freighters was
sold to Air China Cargo in July 2011. The remaining
two such aircraft are expected to be sold to the cargo
joint venture in the second quarter of 2012.
Three of our Boeing 747-400BCF freighters were
dry-leased to Air Hong Kong in order to increase its
capacity.
Air China Cargo, in which Cathay Pacific owns an
equity and an economic interest, was formally
approved and established in February and officially
launched in May 2011. The joint venture operates from
Shanghai. In addition to operating its own freighters,
the venture has exclusive rights to sell the belly space
of Air China’s passenger aircraft. The joint venture has
likewise been affected by the weakness in the cargo
markets in 2011.
Asia Miles
Asia Miles is the award-winning travel reward
programme for Cathay Pacific and Dragonair that now
has more than four million members worldwide, 46%
of whom reside in Mainland China.
In 2011 for the seventh consecutive year, Asia Miles
was named Best Frequent Flyer Programme by
Business Traveller Asia-Pacific Awards.
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Review of Operations CARGO SERVICES ASIA MILES