Cathay Pacific to ground freighters

Old news, but unfortunately I am just reading it now. Here it is via eyefortransport for anyone who hasn’t seen it yet:

With Cathay Pacific’s airfreight business being seriously impacted by the global financial crisis and several of the world’s major economies heading into recession, in January 2009 the airline will park two Boeing 747-400BCF freighters at Victorville, California for a period of one year.

Whilst there will be no significant changes to regional scheduled freighter schedules, there will be some frequency reductions to Australia, North America and Europe.

The airline will receive four more new Boeing 747-400 Extended Range Freighters in 2009, although the delivery of its new Boeing 747-8Fs will now only begin in 2010.

Cathay has submitted a request to the Airport Authority to defer construction of the new Cathay Pacific Cargo Terminal at Hong Kong International Airport by up to two years, in a move to keep capacity expansion in line with market growth, and to reduce its capital expenditure in 2009 and 2010.

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