Cathay Pacific Airways will launch daily Boeing 777-300ER service between Hong Kong and Newark Liberty International Airport on March 1, 2014. The new offering is subject to government approval.
“The introduction of Cathay Pacific’s Newark to Hong Kong service demonstrates our commitment to the New York Metropolitan area, which has been instrumental in the development of our North American operations,” Cathay’s Tom Owen said in a statement.
Cathay's U.S. routings already include Chicago, Los Angeles and New York’s JFK Airport.
During the first half of 2013, Cathay Pacific pulled in a profit of HK$24 million ($3.09 million), a substantial rise from the HK$929 million loss it turned in during the same period in 2012.
Though officials celebrated the improvement, they said the carrier continues to operate in a tough environment, and while the passenger business showed a little growth, the cargo side remained weak. To combat the market malaise and the high cost of fuel during the first half of the year, Cathay reduced capacity, retired less efficient planes and changed schedules.
“The fuel and aircraft maintenance components of our operating costs in the first half of 2013 were significantly lower, and financial performance improved as a result,” according to a company statement. “But the group did not allow cost reductions to compromise the brand or quality of service offered by Cathay Pacific and Dragonair, and it continued to make major investments in new aircraft, new products and the new cargo terminal at Hong Kong International Airport which will benefit the business in the long term."
Cargo revenue for the first half of the year dropped 5.2 percent, year over year, to HK$11.2 billion Capacity at Cathay and Dragonair dropped by 1.8 percent. To take out costs, officials moderated freighter capacity, pushing more cargo onto the bellies of passenger aircraft. Cathay’s new cargo terminal at Hong Kong International Airport will also drive down costs; it is expected to be fully operational by the fourth quarter. - Jon Ross