Cathay Pacific cargo eyes Apple, Foxconn
NEW DELHI : Cathay Pacific Airways Ltd is targeting air freight contracts from large multinationals such as Apple Inc. and Foxconn that are expanding manufacturing in India, a top official at the Hong Kong-based airline said. “We are already significant carriers for these companies through their forwarders out of the southern part of China.
So, there is no reason to believe that we will not have that here in the future," said Tom Owen, the director of cargo at Cathay Pacific, one of the world’s top air cargo operators. In India, Cathay Pacific is among the top four cargo carriers. In the June quarter, the airline came fourth in terms of air freight carried to and from India at 28,531 tonnes after Emirates, Qatar Airways and Aerologic.
Air India stood at the fifth position with 26,023 tonnes. While airlines globally pivoted to cargo business as passenger traffic thinned out during the pandemic, Cathay believes cargo business is a long-term bet. “Cargo business ultimately is very much based on long-term returns and although you can make money in the short term, you can also lose a lot of money in the short term as well.
I think you need to have a long-term plan, investment plan; you need to have a long-term view on fleet, size, scope, network and infrastructure," he said. India will need the support of foreign cargo airlines to achieve the full potential of its export aspirations, he added. “I think ultimately, you need a combination; India is not going to be able...
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